Helloworld reports 60 per cent improvement in turnover, appoints new CFO
Helloworld has recorded a significant improvement in its March quarter financial update and even managed to name its new chief financial officer on the same day.
The company’s total turnover was $419 million, up 60 per cent from the same period last year, with a revenue of $22.8 million, a 52 per cent increase from the previous period.
Its total EBITDA loss for the period was $1.9 million, which sounds like a lot but is actually a massive improvement compared with this time last year, which saw a loss of $4 million.
In good news for the leisure market, non-corporate turnover was up 177 per cent and revenue up 89 per cent, which shows a strong level of growth as Helloworld emerges from the pandemic.
Helloworld’s retail arm has also shown a significant improvement on last year with a total growth of 145 per cent.
Retail networks in Australia and New Zealand have shown resilience throughout the pandemic, with home-based businesses increasing by 25 per cent, however, store-based businesses have declined by 20 per cent.
Helloworld has also appointed Michael Smith as its new chief financial officer, following the departure of David Hall who left the business at the end of March.
Smith is a chartered accountant and experienced CFO with 25 years of experience in finance, including 12 years as CFO and CEO of Amplifon Australia.
Prior to his appointment, Smith was CFO at Adacel Technologies and a senior manager at PwC.
“We are delighted that Mike is joining the team at HLO,” Andrew Burned, CEO and managing director at Helloworld said.
“Mike brings a wealth of experience across a range of industries and businesses; his experience will be an asset to HLO, and we look forward to Mike playing an important part within our executive team.”
Email the Travel Weekly team at traveldesk@travelweekly.com.au
financial update helloworld March quarter Michael SmithLatest News
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