HelloWorld profits rocket off the back of strong bookings

HelloWorld has reported a 23.8 per cent increase in full-year after-tax profit to $38.2 million off the back of a 9.1 per cent rise in bookings in the year to June 30.

The boost saw the travel company’s revenue climb 9.8 per cent to $357.6 million.

The spike in bookings came from Hello World’s acquisition of Magellan Travel Group, Flight Systems, Asia Escape Holidays in FY18 and Show Group and Williment Travel Group in the last financial year.

The Australian division of Helloworld saw its revenue increase by 13.2 per cent to $282.8 million.

Helloworld CEO Andrew Burnes said the company’s outlook was “very positive”.

“As a group, we remain focused on growing our TTV at profitable margin levels while carefully controlling our costs,” he said.

“We will continue our commitment to focus on strategically growing the business and delivering for our agent networks at profitable margins.

“We also remain committed to increase our investment in our people, brands, products and technology to ensure the Helloworld Travel Limited business is well positioned to deliver sustainable long-term growth.

“We believe in the agency distribution model and the value agents add to consumers in planning, booking and managing their leisure and corporate travel and our business focus is on ensuring we have both the off-line and on-line capabilities to maximise the value for our travel customers via our agency networks.”