Media Release
4C FILING - Webjet growth continues: cash burn drops sharply
16th April 2002
Webjet today announced a net usage of cash of the quarter ended 31st March 2002 of $16,000 (last quarter $75,000) and cash reserves as at 31st March of $2.6 million (last quarter $2.6m).
Commenting, Webjet’s Managing Director, David Clarke, said :
1. "Total operating cash flows were minus $123,000 compared with minus $325,000 the previous quarter.
2. Proceeds from share sales were $150,000 and capex was $43,000.
3. Key indications show a continuation of strong growth."
Quarter Estimate
| Gross transactions | 30.6.01 | 30.9.01 | 31.12.01 | 31.03.02 |
$1.7m | $2.3m | $3.0m | $4.0m |
"The month of March, as previously reported, produced a turnover of $1.7 million. That trend has continued into the first half of April despite the Easter holidays.
"The March quarter produced a loss of $231,000 (unaudited) compared with the six-month loss to 31st December 2001 of $835,000, and the month of March itself a loss of approximately $40,000. The higher turnover and income levels are moving directly through to the bottom line and on a year to date basis has produced a result substantially better than budget."