Wotif profits fall

first_imgWotif.com experienced a minor 3.8 percent drop in profits after tax for the full financial year from $53 million last year to $51 million.While revenue experienced a slight growth of 1.7 percent to $138.3 million from $136 million, the company’s profit before depreciation, amortisation and taxation fell two percent to $77.7 million from $79.3 million.Despite the strong Aussie dollar and weather disruptions earlier this year, the group’s underlying bookings improved in the second half of the financial year, according to Wotif.com chief executive Robbie Cooke.Mr Cooke explained that at a group level, room nights stayed experienced a four percent increase in the fourth quarter, over the corresponding quarter.The Group’s flight transactions and accommodation bookings also picked up during the year by 35 percent and 12 percent compared to the previous financial period.“The strong Australian and New Zealand dollars continued to fuel the surge in outbound travel throughout most of the year,” Mr Cooke said.“In fact, ABS data shows an unprecedented 27 percent increase in offshore travel by Australians over the last two year.“This seemingly insatiable appetite for “the Overseas Holiday” has definitely been to the detriment of the domestic break – which has always been our of our key booking sources.” Source = e-Travel Blackboard: N.Jlast_img

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