Listed Australian travel companies are soaring with strong half-year results announcements from Qantas, Flight Centre and Webjet today driving exceptionally strong share price rises.
Qantas shares were up 9%, Webjet’s grew 15% while Flight Centre stock rose 11%.
Qantas smashed its all time half-year result with a $976m underlying profit before tax for the six months to Dec 31, up 15% over the previous record half result of $921m in 2016.
The airline posted record results for its Domestic, Jetstar and Loyalty divisions.
It also announced a share buyback and shareholder dividend of seven cents.
Webjet also announced an outstanding result as the full impact of its B2B business acquisitions over the past couple of years fully kicked in while the Webjet OTA continued to out-perform.
Turnover was up 55% to $1.433 billion, leading to net profit after tax of $20m.
For the first time, Webjet broke out the performance of its eponymous OTA, revealing that :
- bookings were up 12.3% to 754,000,
- TTV rose 21.8% to $642m
- EBITDA came in at $25.7m, an increase of 26%
Meanwhile the B2B business Webbeds also killed it growing turnover by 168% to %629m.
As for Flight Centre, see separate story.