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Webjet Limited (WEB) Share Price Rises 12% On FY18 Result

Webjet Limited (ASX:WEB) released its 2018 financial results to the market today revealing a 30% increase in net profit.
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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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Webjet Limited (ASX: WEB) released its 2018 financial results to the market today revealing a 30% increase in net profit.

Webjet is one of Australia’s largest online travel booking businesses.

Here are some of the highlights from its result:

  • Total transaction value (TTV) up 54% to $3 billion
  • Revenue up 54% to $291 million
  • EBITDA increased by 71% to $87.4 million (click here to learn what EBITDA means)
  • Underlying net profit up 63% to $55.7 million
  • Net profit up 30% to $43.2 million
  • Full year dividend increased by 14% to 20 cents per share

According to Bloomberg, analysts were expecting Webjet to report a profit of $43.6 million. A dividend of 19.6 cents was also expected. The underlying profit appears to have materially beaten the market’s expectations with the share price up 12%.

The Webjet CEO, John Gucic, said: “FY18 was another outstanding year for the company. The Webjet OTA continues to grow share as the #1 OTA and scale benefits are flowing through with significant increases in both TTV and EBITDA margins.”

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