Media Release
Webjet in Black September Quarter 2004
14th October 2004
Webjet today announced that, following the sales growth advised to the market on 1 October, it has moved to an unaudited profit (before depreciation and amortization) of approximately $90,000 for the quarter ended 30 September 2004
Commenting Webjet Managing Director, David Clarke, said: .
"The key components are:
"Total transaction values for the quarter of approximately $12m, an increase of over 112% relative to the same quarter 2003
"An overall increase in cash on hand of $323,000 after financing activities with a resultant total of $1,118,000 on hand as at 30 September.
"A net use of operating cash after working capital movements relating to airline debtors and general creditors changes of approximately $69,000.
Subsequent to 30 September 2004, as advised to the market on 1 October, additional capital of $235,000 has been subscribed to by the AOT group and received in cash.
The sales trend has been sustained into the first half of October 2004 to the extent that if the current trend is continued the month of October is likely to show an increase of more than 200% relative to last year.
We are delighted with the results of the first quarter including the growth in bookings and the substantial improvement in cash reserves, however it remains early in the new financial year and we do not consider that it is prudent or possible to make any further forecasts at this time"