Helloworld says g’day to more profit

Helloworld says g’day to more profit

This year is panning out better than expected for Helloworld, according to its announcement on the ASX today.

In its March quarterly update, the company said it had increased its guidance following a strong third quarter.

Helloworld’s EBITDA for the third quarter (unaudited) was $14.2m – compared with an underlying EBITDA loss of $4.9m in Q3 FY22.

Total Transaction Value for the March quarter was $596.2m, up 150 per cent on the same period last year on a continuing operations basis while YTD TTV was $1.804 billion compared to $629.3m YTD in FY22, an increase of 187 per cent.

Total revenue and other income for the quarter totalled $46.9m, up 240 per cent on the prior corresponding period for continuing operations and on a YTD basis was $120.1m, up 186 per cent on YTD

Helloworld has no external borrowings and strong liquidity and it says leisure travel demand continues to hold up strongly despite challenging economic conditions.

Demand for international and domestic travel continues to improve with a trend towards longer trips and longer lead times to overcome global supply constraints.

Inbound arrivals to Australia and New Zealand continue to improve from western markets while demand across traditional Asian markets remains slow.

Cruise capacity has increased significantly with cruise bookings now being taken through to the end of 2024 and early 2025.

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