Webjet earnings take off thanks to bookings growth
Online travel booking business Webjet’s full-year net profit is up 27 per cent 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.
“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.”
The company has invested $5 million to accelerate the growth in the B2B division, according to Guscic. Webjet stock has tripled in value over the past two years.
In June the Melbourne-based bookings business acquired Online Republic, a New Zealand-based e-commerce company specialising in online bookings of rental cars, motorhomes and cruises, for NZ$85 million.