Travel agents may not like the way Webjet is attracting new business but the company’s new financial figures suggest the technique is working.
For the six months ending December 2015, the travel group made $796 million in total transaction value (TTV), up 28 percent on the $620 million earned during the corresponding period the prior year.
It was not only a record half-year, but December 2015 was also the 21st consecutive month for record-setting TTV.
When it comes to earnings, Webjet made around 73.8 million in revenue, that’s $15.6 million on the same prior in 2014 and profits before tax jumped 28.4 percent to $15.5 million.
The “exceptional results” came despite business costs increasing by 27.1 percent during the six months.
Webjet cited the increase in TTV and profits to an improving competitive environment for its Zuji business; gained share market in North America since the launch of Lots of Hotels; and ongoing investments.
Managing Director, John Gusic, said all businesses (digital and wholesale) exhibited “significant market share growth during the first half of the 2015/16 year”.
He said he expects the company to make around $33.5 million in earnings before interest, taxes, depreciation and amortisation for the full financial year.
