Webjet Forecasts $27m Profit As SunHotels Kicks In

Webjet today reaffirmed its EBITDA forecast of $27m – up from $23.3m the previous financial year – with strong turnover growth across all divisions in the six months to June 30.

The Australian OTA didn’t break it down but profit growth is likely to be driven by new acquisition, the Europe based SunHotels, and a weaker Australian dollar.

It said turnover for the core Webjet brand was up 28% year on year, outperforming a generally flat Australian travel retail market.

Domestic bookings for Webjet rose 18% while international transactions rose 33%.

Meanwhile, Zuji rebounded “with 22% TTV growth returning to the Asian businesses following the downturn in the first half”.

Zuji Australia was up 15%.

The company’s B2B division, which included SunHotels for the first time, recorded a 227% increase in turnover.

When Webjet bought SunHotels it said the company had earnings before interest, tax, depreciation and amortisation of $3.75m with “2014 tracking significantly higher”.

Webjet’s total turnover for the period was $646m – up 41%.

Its earnings before interest, tax, depreciation and amortisation in the 13/14 financial year was $23.3m.

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