Webjet soars on H1 result

Group reaps the benefits of Zuji integration, major margin improvements in H1.

Webjet (WEB) has posted sharp increases in first-half profit and revenue as the business reaps the benefits of Zuji's integration and major margin improvements in its core business.

At 1021 AEDT shares in the online travel services company surged 22% to $3.05 – their biggest jump in almost a decade.

In the six months to December 31, Webjet posted a net profit of $9.17 million, a 60% lift on the $5.72 million recorded in the first half of fiscal 2013.

Revenue in the same period was $52.64 million, also a sharp increase of 62 per cent on the $32.46 million recorded in the previous corresponding period.

The group will pay a fully-franked interim dividend of seven cents on April 11, to shareholders on the register at March 27.

Webjet's managing director, John Gusic, said the results were "exceptional."

"The strategic investments in Cloud technology, marketing and product development as described in the full-year results August 2013 have demonstrated clear success and provide a
powerful operating and infrastructure platform to enable continued business development across all regions," he said.