Webjet increases profit guidance by 20%, and its share soar

Paula Bronstein/Getty Images

Online travel bookings are booming for Webjet.

The company has upped its full year guidance by 20% to $33.5 million in EBITDA (earnings before interest, tax, depreciation and amortisation).

Its shares jumped more than 4% to $5.26 on the news.

Managing director John Guscic says a combination of technology, marketing and development plans are delivering substantial outperformance in all operating regions.

“Our guidance number reflects the fact that all of our business units are exhibiting strong growth,” he says.

He delivered the guidance update to the online travel booking company’s annual general meeting.

Webjet says turnover has grown by more than 15% in the 2016 year so far.

And online bookings growth has been outperforming the market by more than five-fold.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.