Webjet profits keep on climbing

Webjet profits keep on climbing
By admin

Webjet has confirmed its sixteenth consecutive half year of growth as it revealed its results for the six months to December 31 2011, claiming it had “massively outperformed” the general travel market.

The online retailer’s net profit after tax rose 17% to $5.9 million as its Total Transaction Value (TTV) shot up 29% to $369 million.
Its domestic business bucked market trends to climb 16% against a general travel market average of 3% growth, which it drew from data derived from Qantas, Tiger, Virgin Australia, the Australian Bureau of Statistics and BITRE to November 2011.
International business also continued to soar on the back of the strong Australian dollar rising 41% year on year, compared with its general travel market growth estimate of 10%.
“Webjet has massively outperformed the general travel market in core operations of Australia and New Zealand by a factor of at least four times,” a statement from managing director John Guscic said.
Hotel TTV shot up by over 100% over the six month period to $25 million on the back of “major hotel marketing initiatives” which saw marketing costs rise from 1.6% of TTV to 1.8%. Webjet outlined the “acceleration of hotel marketing” as one its key development strategies for the next year.
In addition, it will continue expansion in the US, Canada, Mexico and Asia, having contained overseas losses to $700,000 in the last half.
Technology will be another focus, with global cloud computing and extension into mobile platforms earmarked for enhancement.
Meanwhile, TTV of $64 million was recorded for January 2012 representing an increase of 42% on the same month last year, prompting confidence about the outlook for 2012.
“Webjet maintains its earlier profit growth guidance of at least 10% for the full year as we continue substantial strategic and development initiatives,” the statement said, adding that it did not intend to update this outlook before April.

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