Wotif.com execs must be scratching their heads. The company’s shares fell more than 6% today after the online travel retailer posted a 22% increase in profit to $53m, marginally down on last year’s 26% boost. Webjet shares also slumped 5% in a clear re-rating of the online travel sector. Wotif.com sold 7.12m rooms during the financial year, turning over $1.09bn. It is now claiming more than 10% of all Australian accommodation sales. Wotif.com shares – now trading at $4.60 – have fallen more than 50% since April when they hit a high of $8.08. But nothing has changed. Maybe that’s the issue.
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