Wotif.com posts 60 percent increase in net profit after tax
Riding on strong revenue growth and margin improvement, Wotif.com Holdings Limited has managed 60 percent increase in net profit after tax to $26.4 million as the company shared its results for the year ended 30 June 2007. (8/28/2007)
Room nights sold across the 44 countries represented on accommodation website increased 39 percent to reach 3.81 million rooms sold (up from 2.74 million). This surge in sales provided a 48 percent up lift in revenues to $67.3 million (last year $45.5 million) and drove profit after tax to $26.4 million (up from $16.5 million in FY2006). The company’s result outperformed prospectus forecast by 38 percent.
Graeme Wood, Wotif.com’s Managing Director, said “The result for the year had been exceptional with all markets performing strongly, driving another record result with $529 million in transactions being processed, up from $363 million last year.”
Wood noted that room nights sold in all regions had increased with Australian room nights sold up 39%, New Zealand up 43 percent, Asia up 65 percent , Europe up 8 percent and the Americas up 35 percent .
He also shared that the value of rooms sold had also increased in the year by an average 4.7 percent. Wood commented that Wotif’s marketing efforts in the year had provided significantly enhanced exposure for its accommodation partners with more than 33 million site visits (last year 24 million). He said by directing more business to our accommodation suppliers in more than 44 countries we are able to secure great rates and choice for our customers.