An AAP article says that travel agency group Jetset Travelworld today increased its interim profit guidance, saying it expects 45 per cent growth in its “interim result” in the first half of 2008.
The company says the business is on track for a fourth successive year of profit growth.
Chairman John King said that the company expected to achieve a significant improvement in its after tax profit compared with the interim net profit after tax of $4.6 million reported for the corresponding period last year.
Jetset said it expects its “interim result” for the half year to December 31 to grow by 45 per cent on the prior corresponding period.
“The interim forecast result is testimony to the professionalism of our agency network and a sustained focus by management to expand earnings whilst effectively managing costs,” he said.
“This cements the group’s reputation as one of Australia’s leading retail travel agency networks.”
Chief executive officer Michael Reed said despite increasing pressure on discretionary income from rising petrol prices and interest rates, Australian travellers continue to travel overseas more than ever before.
Jetset Travelworld will release its half year results on February 21, 2008.
For the year ended June 30, 2007, Jetset made $13 million in net profit compared to $8.9 million in the previous corresponding period.
A Report by The Mole
