Tuesday, February 3, 2009

Wotif.com expects 20% profit surge

The internet appears to be the only frontier that can produce positive growth in guest night sales.

Not all internet resellers are successful as wotif.com and it would appear as if the wotif juggernaut keeps on rolling. The publication of the company's half year results to December 2008 will be eagerally antisipated by the accommodation industry.

Wotif.com sells accommodation online in more 45 countries. The website attracts 3.4 million visits, with customers making over 205,000 bookings. It is one of the most successful and readily recognised brands for online accommodation booking services in Australasia.

A recent survey revealed that 61 per cent of Kiwis now book accommodation online. It also found that 61 per cent use online research to decide what accommodation choice to choose while only 5 per cent ask a travel agent.


Brisbane-based Wotif.com expects its net profit to be about $20.4 million to December 31, 2008, up 20 per cent on its interim 2008 net profit of $17.064 million.

This expectation is based upon internal management accounts and may change on completion and review of the Wotif Group's final accounts, the company said in a statement on Tuesday.

The company's interim 2008 net profit was 43 per cent higher on the interim 2007 result, and was generated by a 32 per cent hike in revenue to $41.062 million.

Wotif.com will release its interim results on February 2009.

By 1022 AEDT shares in Wotif.com were 22 cents or 7.07 per cent higher at $3.33.

Source: Click HERE

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