Strong Turnover, Revenue Growth at Webjet

Webjet, thanks to new acquisition SunHotels and good performance from its core Australia/NZ markets, has announced a 22% increase in TTV to $620m for the second half of 2014, though net profit remained static at just over $9m.

Management was buoyant – Managing Director John Guscic hailing it as a stellar result  – with the only negative the poor performance of its Asian OTA Zuji  in Hong and Singapore.

“While Zuji’s Australian business is performing well, its Asian businesses have been under pressure, resulting in falls to both revenues and margins.

“As a result we lost some of the gains we made last year and the business reported a loss.”

TTV in Asia for WEbjet fell 26.8% for the period to $64m.

“The B2B division continues to demonstrate exceptional growth,” said Mr Guscic.

“From a start-up less than two years ago the LOH business made $1.5m EBITDA in the first half.”

Also encouraging has been the strong TTV growth of Webjet’s core Australian and NZ market – up 18.7% to $433m.

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