Jetset profits jump

first_imgSource = e-Travel Blackboard: N.J Jetset Travelworld has reported a profit before tax increase of up to 157 percent for the last six months of 2011 despite a strong Aussie dollar and the temporary grounding of Qantas.The company’s chief executive Peter Lacaze described the jump from $6.4 million during the six months to 31 December 2010 to $16.5 million last year as “pleasing”, explaining it was achieved in spite of a tough calendar year.Total transaction value (TTV) increased by up to 27.1 percent during the same period from $2.2 million to $2.8 million while its revenue hiked 23.4 percent to $187.5 million.“The result for the first half reflects the on-going benefits of the merger of Jetset Travelworld and Stella Travel Services which completed on 30 September 2010,” Mr Lacaze explained.“The merged Group has created a solid foundation for future growth with a lower operating cost base which is key to navigating through changeable industry condition.”Despite the positive profit, Jetset Travelworld’s wholesale segment saw its TTV drop from 15.4 percent to 13.2 percent over the same period while TTV in its travel management segment increased 61 percent to $375.7 million.Looking ahead, Mr Lacaze said the company remained cautious as an “uncertain” market is expected to continue haunting economic circumstances.“It is difficult to predict the outlook for demand trends due to the volatility in economic conditions however, absent any significant disruptions to the travel industry, we expect the outbound and domestic travel market will continue to grow,” he said.“Demand for inbound travel to Australia is expected to remain flat.”last_img

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