Wotif.com H1 profit weakens

Wotif.com says it continues to invest in its brands after first-half profit fell due to increased costs from strategic investment in marketing and IT.

Wotif.com Holdings (WTF) says it continues to invest in its brands after reporting a fall in first-half profit due to increased costs from strategic investment in marketing and information technology.

Net profit after tax fell by 18% to $22.6 million in the six months to December 2013, compared with $27.5 million in the six months to December 2012.

Total revenue increased by 3.5% to $75.8 million in the half-year, compared with $73.2 million in the previous corresponding period.

The group will pay an interim dividend of 10 cents per share, fully franked, on March 26.

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