Helloworld’s shareholders have ‘resolved’ to adjust the company’s name slightly to a title that will better reflect the business.
The newly agreed upon name will be – Helloworld Travel Limited.
In a statement uploaded to ASX, Chief Executive and Managing Director, Andrew Burnes, said he believes that adding ‘Travel’ to the company’s title is an “important step” towards “further increasing” brand awareness “and cut-through in the market”.
“The Helloworld brand continues to build traction in the market and by changing the name of the listed company at the corporate level we are strengthening our position within the travel industry.”
Andrew Burnes, Helloworld Travel Limited Chief Executive and Managing Director
Burnes continued, saying that the slightly adjusted name is part of the ongoing process of brand assessment.
Meanwhile, earlier this month Helloworld issued some good news when it upgraded its earnings guidance for the 2016/17 financial year from $47-$51 million to between $52-$55 million.
The earnings before interest, tax, depreciation and amortization (EBITDA) will come on the back of some $5.8 billion in total transaction value (TTV).
In an online update, Helloworld said that although tradition conditions remained “challenging” with low airfares and strong competition, it believes the company’s TTV and margins are being maintained. Additionally, the business will start seeing financial benefits from the Helloworld/AOT merger.
“It is pleasing to see the combination of solid TTV, margin improvement, particularly in the wholesale division, and careful cost control delivering improved outcomes for the business.”
Andrew Burnes, Helloworld Travel Limited Chief Executive and Managing Director
“We always said it was a two year process to get this business to where it needed to be and fortunately we have achieved a lot over the last 14 months.
“This is a credit to our team in Australia, New Zealand, Fiji, the USA, Vietnam, India and other parts of the world. Our agency network is reporting very strong trading in the March quarter and our own transactional businesses have also performed well.”