Goldman Sachs believes the extension by online retailer Wotif.com of its booking window from three months to six months will have no significant impact on earnings. Analyst Mike Younger notes in an investor briefing that the “vast majority” of Wotif.com’s bookings are domestic with an average lead time of 12 days, reflecting the site’s last-minute bias. Younger also believes it’s likely that “consensus estimates” of a strong pickup in Net Profits After Tax to a record $29m for the six months to June 30 will be downgraded. Factors include the trend to overseas travel and Wotif.com spending more on marketing.
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