Media Release
Market Guidance - Record Quarter Ended 30 September 2006 - Profit Increases 15%
10th October 2006
Webjet today announced a Net Profit Before Tax (unaudited) of approximately $1.1 million for the quarter ended 30 September 2006.
Commenting, Webjet Managing Director, David Clarke, said:
"The net profit for the quarter is a quarterly record result and is after fully expensing the substantially increased marketing cost foreshadowed in our annual report. Compared with the same quarter last year, after an increase in marketing costs of approximately $800,000, (from $400,000 last year to $1.2 million this year) we have at the same time increased profit by approximately $150,000 or 15% (from $950,000 last year to $1.1 million this year).
The marketing costs for the quarter are tracking in an aggressive but tightly controlled percentage band of approximately 2% of TTV and have developed substantially greater TTV momentum with quarterly TTV reaching a record of $60.2 million compared with $39.5 million for the same quarter last year.
This substantial momentum and increased market footprint is currently extending into the October quarter with all indicators currently strong.
Cash flow remains very strong with $25.2 million on hand as at 30 September 2006 compared with $23.1 million as at 30 June 2006, an increase of $2.1 million for the quarter.
Whilst no forecasts are made at this time we are delighted with the result.
Market guidance in relation to capital management and dividend policy will be provided at the forthcoming AGM on 2 November 2006."