Webjet lifts full-year profit

Webjet-ExclusivesOnline travel booking business, Webjet, has announced full-year net profit is up 27 per cent lift to $22 million, thanks to strong bookings growth.

Revenue increased 29 per cent to $155 million in the year to June 30, compared to the previous year and it will pay a final fully franked dividend of 8.0 cents a share, up from 7.25 cents. The company posted a 31.4 per cent increase in earnings before interest, tax, depreciation and amortization to $36.6 million.

“All businesses in both our digital retail (B2C) and digital wholesale (B2B) divisions experienced strong organic bookings growth and market share growth during the year,” said John Guscic, Webjet managing director.

Guscic said the B2C division continues to benefit from the ongoing acceleration of bookings shifting online.

“Webjet has now reported 27 months of consecutive TTV, with bookings growth outperforming the market by more than five times and international bookings continuing to demonstrate superior growth.”

Guscic said they have invested $5 million to accelerate the growth in their B2B division.

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