Webjet's NPAT up 61% for first half FY19

Company News

by Rachael Jones

Travel company Webjet (ASXC:WEB) today showed their net profit after tax (NPAT) was up 61 per cent to $38.3 million for the first half of FY19.

The company delivered a record first half performance with a 42 per cent increase in EBITDA (earnings before interest, tax, depreciation and amortisation) to $58.0 million.

Revenue grew 33 per cent to $175.3 million.

Their accommodation company WebBeds’s EBITDA more than doubled year-on year, from $12.8 million in 1H18 to $30.1 million in 1H19.

This was driven by strong growth in the key European and Middle East markets and the Americas.

The company announced a fully franked interim dividend of 8.5 cents per share, and reconfirmed guidance saying it was on track to deliver EBITDA (excluding one-offs) for FY19 of at least $120 million.

Shares in Webjet (ASXC:WEB) are trading 27.88 per cent higher to $14.54

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.