Company is now debt-free and will pay 10c per share fully franked dividend from proceeds of corporate sale.
Helloworld Travel Limited has just released its annual results for the 12 months to 30 June, with the statutory profit figure of $89.8 million including a $117 million gain on the disposal of the group’s corporate travel operations to Corporate Travel Management.
The company reported a $36 million pre-tax loss from its remaining operations, which came down to $10.6 million in EBITDA terms, and overall Group TTV from the continuing operations amounted to just over $1.07 billion, up 140% on the prior year.
After a patchy performance over the first nine months of the financial year due to the impact of border closures and the Omicron variant, the final quarter saw significant growth in Helloworld’s leisure business, returning the company to “operational profitability on the back of a solid June”.
The overall Helloworld retail network now comprises 2,064 members across Australia and New Zealand, down from 2,168 in December 2021 and 2,224 a year ago, the update noted.
The company is forecasting an EBITDA profit of $22 million-$26 million for FY23, with CEO Andrew Burnes saying “the last two years have been the most difficult for our industry but despite this our business stands ready for a solid rebound”.
More details in today’s issue of Travel Daily.