Andrew Burnes may be new to the CEO role over at helloworld, but he’s already having a massive impact on the company’s finances, according to a recent update.
In a statement published to ASX, the new Chief Executive is feeling confident about the recent changes he’s initiated, saying they’ve put Helloworld Limited on track to achieve a “significantly improved result” in FY17.
Over the last three months, Burnes has seen Helloworld Limited throw a merger with AOT Group Limited, which transformed the company into Australia’s leading integrated travel group.
He also introduced tighter cost control by streamlining helloworld’s retail marketing division, closing out the defined benefit superannuation fund and bringing an end to the Orbitz agreement.
Burnes also accredited the financial turnaround to the addition of over $100 million in TTV to the corporate division and the consolidation of Helloworld Limited and AOT’s IT, administration and finance, database and other operating divisions.
“We expect to see a very positive upward trend in earnings in FY17.”
Andrew Burnes, Helloworld Limited Chief Executive
“The team at Helloworld is creating a world class retail, wholesale and corporate travel distribution business and I’m confident the merger between AOT and Helloworld combined with the positive momentum we have in all parts of our business will deliver improved outcomes for all our stakeholders.”
Helloworld will release its full year FY16 results later this year, at which time Helloworld will also release earnings guidance for FY17.
