Webjet expects to post US$5.25m profit in fiscal 2008

Published: 28 Nov 2007

The online travel agency told shareholders at its annual meeting that net profit is expected to be between $A5.7 million (US$4.98 million) and $A6 million (US$5.25 million) in fiscal 2008. The company said it expects to post profit before tax of between $A7.9 million (US$6.91 million) and $A8.3 million (US$7.26 million) this financial year.

The company advised shareholders that strategic acquisitions remain under intensive research. Last month, Webjet said its off-market takeover bid for Travel.com.au Limited (TVL) had failed. After a series of bids and counter-bids Webjet ultimately withdrew from the race, leaving Wotif.com Holdings Limited (WTF) with the only remaining offer for Travel.com.au. Wotif valued the target at $54.5 million.

At the close of Webjet's offer period on November 19, the online travel agent had a 20.53 per cent stake Travel.com.au .

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