Helloworld ends year on $3.5mil profit

Helloworld ends year on $3.5mil profit

Helloworld Limited announced the end of financial year results for the year ending 30 June 2016 with solid results in a time CEO and managing director, Andrew Burnes, called “evolution” for the company.

Profit before tax was $3.5 million for the year ending June 2016, a significant improvement on the prior year loss of $198.4 million. Basic earnings for the year was a profit of 1.89 cents per share and it was announced that a fully franked dividend of 2.0 cents per share would be paid, the first time a dividend has been paid since 2013.

EBITDA was up 5 percent to $25.3 million and TTV increased 8.3 percent to $5.1 billion. Revenue from operating activities was $297.9 million, a 7 percent increase on the previous year.

“These results reflect a time of evolution for Helloworld Limited, following the merger with The AOT Group in February 2016. They represent the positive steps we have taken so far, and the opportunity to build on this momentum for success in the future.” Burnes said.

“The outlook for Helloworld is very good. The fundamentals of the business are sound and we see continued demand in our retail, wholesale/inbound and corporate divisions. Margins are holding and we expect to see margin improvement in the year ahead. Tighter cost management including delivery on identified synergies and cost savings will deliver much stronger fiscal outcomes for the business.” Burnes added.

New developments in the business, particularly in terms of our brand strategies, revamped advertising strategies and online activities, which are now fully aligned with the interests of the brand carrying networks ranked high with agency networks.

“It’s a good news story for our agents, staff, stakeholders, networks and shareholders. We are in a solid position right now and we have strong opportunity for growth. The future is bright for Helloworld.” Burnes concluded.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

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