Jetset Travelworld Limited shares lifted over 5% yesterday morning after it announced it has upgraded its full year 2007 profit forecast by approximately 40% on the full year 2006 result of $8.96 million.
Chairman John King said this was largely a result of continued buoyancy of the international travel segment, adding, “Following the significant increase in the result for the half year ended 31 December 2006, continued buoyancy of the international travel segment of the business was a major contributor to that trend continuing for the current year”.
CEO Michael Reed said the group’s performance clearly indicated that consumers saw significant advantage in partnering with Jetset and Travelworld agents for their international outbound travel, adding, “This forecast result underpins the group’s ability to continue to expand the business by embarking on initiatives such as the on-line booking engine currently under development and the recent investment in niche wholesaler, Orient Pacific”.
Report by The Mole
