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Webjet's profit soars 40% in 1H10

Webjet's profit soars 40% in 1H10

Online travel agent Webjet said it defied the travel industry downturn in 1H10, boosting its post-tax profit 40% to $5.2 million.

The company reported revenue of $18.4 million over the period – a 32% increase year-on-year.

Webjet said current macro indicators suggest that Australia escaped the worst of the global financial crisis, with air ticket prices showing the first signs of growth in some time.

“Although we are not at this juncture providing formal market guidance, we would be disappointed if the profit in (2H10) is not similar to the first half,” a Webjet spokesperson said.

Webjet intends to launch a range of products – including an iPhone app – “shortly,” the spokesperson added.

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