Wotif Shares Bounce on Positive Result

Wotif has bounced back with a positive result for the six months to December 31, 2011, making a net profit of $28.8m. That’s $3.4m more than the same period in 2010. A big factor was a $2.4m reduction in costs. The company also benefited from a 1% group-wide rise in room rates. Unfortunately room night sales fell 2% – 3.63m compared with 3.71m in 2010. However, investors liked what they saw and pushed the share price up 10%.

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