Webjet shares soar as revenue jumps by half

Paula Bronstein/Getty Images
  • Webjet full year revenue of $291 million, up 54%.
  • Total transaction value of $3 billion, up 54%.
  • Net profit after tax from continuing operations of $43.2 million, up 30%.

Webject shares jumped after the online travel agent posted a 54% lift in full year revenue to $291 million.

At the close, shares were up 18.2% to $17.12.

Net profit after tax for continuing operations was up 30% to $43.2 million.

John Guscic, Webjet Ltd’s Managing Director, says 2018 was another outstanding year for the company.

“Our strong brand is also playing a key role in driving ancillary growth, particularly in packages, car hire and insurance, which helped contribute to the increased TTV (total transaction value) margins this year,” he says.

Guscic says Webjet is the largest online travel agent in Australia, with more than 5% of the domestic market and 3% of the international market.

“We believe we are well positioned and have substantial headroom for ongoing bookings growth as the B2C market continues to shift online,” he says.

The company declared a final dividend of 12 cents a share, taking the total payout to 20 cents.

The 2018 results:

Source: Webjet

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