Webjet (ASX:WEB) on Thursday reported a full year profit for the 12 months ending 30th June 2018 of $81.3 million, up 46 per cent on the same period a year earlier.
On a per-share basis, the company said it had a profit of 63.3 cents, a 31% increase on the corresponding period last year. The company declared a full year fully franked dividend for the period of 22 cents per share, an increase of 10 per cent.
Managing Director John Guscic said: “FY19 was an outstanding year of profitable growth for Webjet – transacting $3.8 billion in total transaction value (TTV) and delivering another record profit for our underlying business.”
He went on to say “It was a phenomenal year for our WebBeds business – in just over 6 years since launching our start up in the Middle East, our global business is now delivering over $2 billion in TTV. We continue to gain share and consolidate our position as the #2 global B2B player and our increased size and scale is allowing us to focus on pursuing more profitable growth, resulting in higher TTV and EBITDA margins coming through in all regions.”
Strong start to FY20
Looking ahead, John Guscic said: “The first 6 weeks of trading have shown a strong start to FY20. WebBeds TTV is up over 50% compared to the prior corresponding period, Webjet OTA TTV is up 9% and Online Republic TTV is up 4%. As well as driving organic growth in all our businesses, we have a strong pipeline of acquisition opportunities”
In early trading on Thursday, Webjet shares have fallen 65 cents or 4.7 per cent to $13.20.
The Webjet share price has risen 25 per cent since the beginning of the year, while the ASX 200 Index has gained 17 per cent.