Wotif Profit Up, Share Price Down

GO figure. Wotif, the online travel powerhouse, today announced that its net profit for the 09/10 financial year will increase by more than 20% yet its share price fell by 8% to just under A$6.98 in early trade on the Australian Stock Exchange. Wotif estimates its profit for the year will be between A$52m to A$56m, compared with A$43.5m last financial year. Despite the fall, Wotif is still trading on a price earning ratio of 30,  far more than any other other listed online travel stock, which shows it’s the clear sector favourite among investors.

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