BRISBANE – A 33 percent increase in sales and 24 percent lift in earnings per share were highlight of announcements at the annual meeting of Wotif.com.
The company called the results, “exceptional outcomes in the current economic climate”.
In three years since listing on the Australian stock exchange, the Wotif Group has produced total shareholder returns of 210 percent based on last Friday’s closing share price.
Robbie Cooke, CEO and managing director of Wotif.com said the acquisition of travel.com.au and Asia Web Direct (HK) in the 2008 financial year had paid off even beyond expectations.
“Travel.com.au produced more than accommodation volumes. It has added air travel and a corporate booking capability to the company’s services.
“Asia Web Direct is slightly different. The impetus it has provided in the Asian accommodation market underscores the group’s intention to build upon its dominance in the online Australian market,” said Cooke.
Cooke added, “The decision to invest in the extended booking window, our corporate travel management platform, the group’s flights booking engine and our mobile (iphone) solution provide some insight into the group’s determination to do more than simply rely on organic growth and a few well constructed and well executed acquisitions.
“Taking full value from these advantages is the next major challenge for the management team.”
He said consumers were still prepared to travel and they were being drawn “to the compelling value available online with a significant focus on deals”.
The year saw the group sell a record 6.3 million room nights, up from 4.9 million last year.
“We remain excited by the potential of the various markets we have targeted in Asia. FY2009 saw us increase the number of room nights we sold in Asia by 100 percent, hitting an impressive 990,000 room nights,” Cooke said.
