Media Release
4C Filing - Commitment Test - Quarter ended June 2004
27th July 2004
Cash Use Slows, Sales Increase
Webjet today announced the continued improvement in cash flow.
Over the last four quarters the trend has been :
Quarter to 30/9/03 | 31/12/03 | 31/3/04 | 30/6/04 |
-287k | -297k | -176k | -46k |
After financing activities cash on hand as at 30 June 2004 totalled $795,000, an increase of approximately $120,000 compared to31 March 2004.
Commenting Webjet Managing Director, David Clarke, said “the reduced use of cash is broadly in line with our forecasts and is reflective of a substantial increase in turnover as foreshadowed to the market in our advice of 22 June. That sales growth has further accelerated during July to the extent that if current trends continue we expect gross transactions to total nearly $3million for the month (a record) which compared with July 2003 will represent an increase of between 60-70%.
The new financial year has started very strongly assisted by a range of airline promotions, continued consumer acceptance of the Travel Service Aggregator (TSA) developed by Microsoft Australia, and a consequent improvement in conversion rates and repeat business.