Media Release
Webjet cash use on budget - Sales up 20%, costs down 15%
27th October 2003
4C filing quarter ended September 30, 2003Webjet today advised that net operating cash use in the quarter totalled $287,000 compared to previous quarter use of $487,000 and is in line with budget.
Total operating and investing cash flows totalled $667,000 reflecting the scheduled payments for the new travel services platform under construction by Microsoft.
Cash on hand at the end of the quarter was $1.176million.
Commenting, Webjet Managing Director, David Clarke, said, "The improved quarter cash use is reflective of the substantial 20% left in quarterly sales and income as advised to the market 01 October and the reduced cost of operations where staff costs and advertising costs were approx 15% lower than previous quarter.