WEBJET will record a pre-tax profit of between A$3.2 million to A3.4 million for the year ended June 30, well up on the previous year but not enough to get investors excited. Its share price stayed at around 30 cents – well down on its 12 month high of 50 cents. However, CEO David Clarke pointed out that Webjet’s capitalization has increased over the same period to just under A$100 million due to a massive 72% rise in shares on issue, from 224 million shares to 310 million shares. He said there would be no decision on how to utilize the A$23 million cash it has in reserve until the end of this year. Around 60% of Webjet’s gross profit comes through service fees.
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