Wotif rebounds with record results

Wotif rebounds with record results
By admin

Online travel agent Wotif appears to have shaken off its sluggish 2010/11 financial performance as it announced its strongest ever performance in the six months to December 31, 2011.

The group recorded half year profits of $28.8 million, an increase of 14% on the same half last year.

Growth was driven by Total Transaction Value (TTV) of $596 million, another group record, rising 11% on the previous half, and 11% on the corresponding period in 2010.

“Our business performed ahead of our expectations as outlined to the market at our general meeting in October last year, with our Australian domestic operations delivering a great result despite the continuing strength of the Australian dollar,” managing director and group chief executive Robbie Cooke said.

Wotif’s emerging flights operation also made a strong contribution despite minimal marketing and awareness. The retailer sold $52 million worth of flights, a 23% increase on the previous year.

Cooke revealed Wotif sold 10% of all Australian accommodation. Wotif.com room nights rose 4% to 2.97 million nights, with group room nights up 2% to 3.63 million nights.

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