Terming its performance in the 2004/05 financial year as an amazing one, online travel company Webjet has posted a net p

Terming its performance in the 2004/05 financial year as an amazing one, online travel company Webjet has posted a net profit for the period of $1.44 million compared with a loss last year of $1.14.

Published: 21 Sep 2005

Terming its performance in the 2004/05 financial year as an amazing one, online travel company Webjet has posted a net profit for the period of $1.44 million compared with a loss last year of $1.14.

The company stated that profit before amortization and depreciation was
$1.83 million, while cash on hand $3.5 million (as at 30 June 2004
$794,000). It also stated that the total transaction valued $77.5
million (as at 30 June 2004 $20.8 million).

Company's chairman Allan Nahum said, "I think one look at any of
Webjet's statistics, be it the number of passengers, positive cash flow,
tightly contained costs or the emerging substantial transaction based
profits, would suggest to you that your company has had a stellar year."

He added, "We see enormous challenges and opportunities in our sights as
the customer community increasingly uses the internet as an ordinary and
convenient way of doing business, and as we continue to build the range
of products, our customer support mechanisms, and the ease with which
our product offering can be accessed through our award winning website.
The airlines continue to change the distribution model to take costs out
of their systems, and of course this presents us with both new
challenges and new opportunities. I think we are well placed to continue
to meet these challenges in the future."

David Clarke, managing director of the company said that Webjet has
successfully transitioned to a changed airline commission environment
and structured an economic model which is both sustainable and
appropriately reflective of the values which Webjet brings to the
distribution of travel products.

"It is a model which has been resoundingly endorsed by our growing
customer base, our growing market share and our repeat business," said
Clarke.

Earlier this month, the company announced total transaction values of
$14.1 million for August, substantially in excess of the market guidance
of $12.5 million. Also, August produced a 29% increase (approximately)
on its previous record month of July ($10.9 million).

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