JTG anticipates flat first half

JTG anticipates flat first half
By admin


Jetset Travelworld expects to finish the first half of its financial year with profits before tax “largely in line” with the same period last year as market conditions remain relatively unchanged.

Speaking at the firm’s annual general meeting, chairman Tom Dery said preliminary results for the four months to October 31 indicate a flat result for the first half, excluding “non-recurring items” such as the $2.4 million cost of its ongoing strategic review and the $800,000 retirement of former chief executive Peter Lacaze.

“Market conditions have remained largely consistent with the trends experienced in the last financial year,” Dery said.

“The leisure market in Australia has experienced low growth levels due largely to the decline in average selling prices.”

He revealed an estimated 10% decrease in group total transaction value, driven in part by declining government volumes through travel management arm QBT. But he said the decline has been “largely offset” by improved revenue margins and a 9% reduction in costs following the restructure announced in June 2012.

“The board is pleased with the progress that the recently appointed chief executive Rob Gurney is making with the strategic review, which is expected to be completed in the first quarter of 2013,”
Dery added.

Latest News

  • Aviation

Korean Air signs MoU with Boeing to upgrade and expand its widebody fleet.

Korean Air has signed a Memorandum of Understanding with Boeing at the Farnborough International Airshow to upgrade and expand its widebody fleet. The airline has announced its intent to procure 20 Boeing 777-9s and 20 Boeing 787-10s with options for 10 more of the largest 787 Dreamliner variant today (Monday). The signing ceremony was attended […]

  • Technology

Australian agents responded quickly to Crowdstrike crash

Local travel professionals and businesses moved quickly into action to provide support to the many Australians whose travel plans were thrown into chaos on Friday and into the weekend. The chaos was the result of the flow-on effect of the suspension of check-in services and flights domestically and globally. A blue screen with the outage […]

  • News

Booking.com and Airbnb named as the preferred booking platforms of digital nomads

A new YouGov Survey has found that booking.com and Airbnb are the most popular booking platforms for digital nomads. For this poll a ‘Digital Nomad’ was defined as someone who travels freely for an extended period (at least one week), while working remotely using technology and the internet. YouGov Surveys have found that almost one […]

  • Attractions
  • Food & Beverage

Singapore Airlines has been announced as the first airline partner of Taste Port Douglas

Singapore Airlines has been announced as the first airline partner of Taste Port Douglas food festival presented by Sheraton Grand Mirage Resort, Port Douglas. The Taste Port Douglas Takeover Series now has a presentation partner in Singapore Airlines and features Michelin star chef, Michael Wilson from Singapore marking this the first time the festival has […]

  • Food & Beverage

Exciting culinary experiences across Asia

Here is a look at some exciting experiences across Asia to enhance traveller vacations in iconic cities across the continent. The Mai Restaurant at Meliá Chiang Mai Located on the 21st floor of the iconic hotel, the Mai Restaurant has launched a Thai-inspired afternoon tea for two that pays tribute to the Baan Tawai Wood […]

  • Regional
  • Tour Operators

On Foot Holidays launches Ligurian Hills hiking tour promotion

Australians can explore Italy’s Ligurian Hills on foot on a self-guided, inn-to-inn hike with Onn Foot Holidays new promotional rates. Liguria is a coastal region in north-western Italy near the French border, known for its mountains, rolling hills and seaside ports. On Foot Holidays’ seven-night holiday begins with two days of walking through vineyards and […]

  • Products

Mandarin Oriental takes a dive into swimwear with $360 board shorts

If you were inspired by The Inspired Unemployed’s Liam Moore limited-edition pair of Budgy Smugglers but want a bit more coverage, then here’s your chance. The Orlebar Brown brand has introduced an original design of the Bulldog swim short for Mandarin Oriental hotels – yours for a snip at US$242.25 (AU$360). They have been “designed […]

  • Health & Wellness
  • Luxury

Trisara showcases sustainable dining via wellspring program

Phuket-based resort Trisara is transporting guests from resort to farm to table then back again courtesy of a new limited-time program, Wellspring. The package is a collaboration with Tri Vananda, a US$182 million (AU $270 million) wellness community in northern Phuket, conceived by Montara Hospitality Group, the owners of Trisara. In addition to entitling guests […]