It has been interesting following the progress of Jasons Travel Media (JTM) that are best known in the motel industry for publishing the annual "Jasons" accommodation directory.
John Sandford was the founder of Jasons that began in 1967 as a privately owned entrepreneurial small media enterprise. There are still some moteliers left in the industry that can remember John turning up at their motel in an old Valiant selling advertising in his fledgling accommodation guide.
Over the years, John Sandford became an industry icon and the popular face of Jasons. John was recognised by being awarded Honorary Life Member of the Motel Association of NZ for his longevity, loyalty and service to the motel industry.
John completed his journey with JTM by listing on the NZ Stock Exchange before his "retirement." At the time, many long term motel industry stalwarts invested in JTM shares.
John decided to step down as CEO in 2006 and swapped places with his replacement, Steven Joyce who was a director for JTM.
Steven Joyce remained CEO for two years and left his mark by advancing Jasons web development. With Steven leaving to launch his political career before the last election (see our post here), Jasons appointed his replacement Matthew Mayne in 2008.
Matthew has a hard act to follow, but is an experienced General Manager with particular strengths in the online media sector. He has yet to make his presence felt in the motel industry.
In a short time, JTM has gone from a "family business" with a visible, charismatic and respected figurehead to a publicly listed company. Such a transition can be difficult as the company progresses to new horizons and adopts a different personality.
As the accommodation industry is squeezed in uncertain economic times, past loyalties are soon forgotten and moteliers will be looking very closely at their advertising spend. We have heard rumors around the traps that Jasons reps are offering "special deals" to selected properties in order to maintain sales. This is unfortunate.
Jasons Travel Media Limited is a public company, listed on the NZAX board of the New Zealand stock exchange. It distributes travel media, publishes the websites www.jasons.com, www.holidayguide.co.nz, www.dutymotel.co.nz and www.roomsearch.co.nz; and over 60 different free printed travel guides annually, covering New Zealand, Australia and the South Pacific.
4 May 2009
Article: Businesswire
Jason’s full-year profit falls 20% as revenue slips
May 4 - Jasons Travel Media, the travel and accommodation guide publisher, said full-year profit fell about 20% as revenue dipped at some of its smaller titles.Profit fell to NZ$787,000 in the 12 months ended March 31, from NZ$982,000 a year earlier, the company said in a statement, citing unaudited figures. The company will release its full results in June. Operating profit fell to NZ$1.2 million from NZ$1.55.
The figures are below earlier projections “due to the general effects of the current economic climate,” chairman Geoff Burns said.
Core print and web products and its distribution business, including recent acquisitions, have continued to “perform well” while smaller publications, “particularly some local maps and guides, have suffered contraction in revenue, compared to earlier expectations,” Burns said.
The company expects to maintain its final dividend at 1.5 cents a share, fully imputed, making total payments of 3 cents for the year.
The shares trade infrequently and last changed hands on April 6 at 75 cents. Jason’s has declined 6% in the past 12 months, outperforming the NZAX market, which is down about 30%.
Source: Click HERE
