Wotif.com Holdings Expects 29 Percent Jump in Full-Year Profit

Wotif.com Holdings (WTF), an online travel agency that offers online accommodation booking services to around 45 countries with main focus on the Australian and New Zealand market has announced that it is expecting to see its full-year profit to increase by as much as 29 percent based on strong occupancy levels in Australia. The WTF shares went up by 1.84 percent or 9c on Wednesday hitting $4.99 where it was closed at an eight month low ($4.90 a share) on Tuesday. In an investor presentation held on yesterday, the company claimed that its net profit for the 12 months to June 30 is expected to remain within the range of $52 million and $56 million.

The largest online booking service provider of Australian and New Zealand posted a $43.5 million worth of net profit for the financial year 2009 and a $27.6 million worth of profit for the first half of 2009-10 which is a record. According to the company, the occupancy level in Australia was strong and the outlook for the room rates was improving. However, WTF admitted that the outlook for its operation in Thailand was still a challenge. It is to be mentioned that Wotif.com Holdings started its journey from Australia during 2000 and its profit went up from $5 million during 2002-03.

Some of the brands under the company includes: Wotif.com, lastminute.com.au, travel.com.au, AsiaWebDirect.com, LateStays.com and Arnold Travel Technology. Some 100 other travel content and destination websites are also under its belt. WTF has recently launched Wotflight.com which offers travelers the opportunity to compare flights from different airlines and allows them to buy the tickets. The company currently has more than 450 staff and operates from offices located in different countries including Australia, Britain, Canada, Indonesia, Malaysia, New Zealand, Singapore and Thailand. The head office of the company is located at Brisbane.