Webjet Limited (ASX: WEB)- Webjet’s stock soar on 224% growth in revenue

  • Aug 23, 2018 AEST
  • Team Kalkine
Webjet Limited (ASX: WEB)- Webjet’s stock soar on 224% growth in revenue

Webjet sky-rocketed today on ASX after the company posted 224% growth in revenue for the financial year to 30 June 2018.

Online travel agent’s total revenue increased to $761.6 million from $234.9 million in FY17 but net profit after tax fell 21% to $41.5 million, reflecting impact of proceeds from sale of Zuji and one-off transactions incurred during FY18.

Earnings before interest tax, depreciation and amortization grew 23% to $86.3 million on the back of Webjet’s OTA market share growth and WebBeds’ B2B business growth following transformational benefits derived from the acquisition of JacTravel.

Final dividend increased to 12 cents per share, payable on 11 October 2018. This brings fully franked FY18 dividend to 20 cents, up 14% on FY17.

Webjet stock is trading at $17.120 after taking a leap of 18.232% in daily price change on Thursday, 23, August 2018.

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