Travel agent franchise Jetset Travelworld (ASX:JET) said its first-half profit fell 68% year-on-year to $4.9 million, with the company left reeling from a decline in the corporate travel sector.
The company, which operates both online and brick-and-mortar travel agencies, said it recorded total transaction values (TTV) of $1.05 billion, a 21% decline from the year before.
But TTV improved marginally from Q2, with improvements in the leisure sector helping to offset the corporate declines.
JET shares have today fallen 10.4% to $1.20.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.