Helloworld swings back to profit

HELLOWORLD Travel Limited reported a full year statutory profit of $90 million for the 12 months to 30 June, driven by a strong return to profitability in the fourth quarter of the period.

The result has left the company with a strong balance sheet after the trauma of the pandemic, comprised of $89.1 million in unrestricted cash and 3.5 million Corporate Travel Management shares.

TTV also saw a healthy period for the business, up 140% to $1.07 billion, while EBITDA also improved from a $24.5 million loss to $10.6 million in the red.

Significant growth was achieved in Helloworld’s leisure business for the 12 months, which included an up and down first nine months followed by a resurgent final quarter culminating in a bumper month of June.

While the top line figures painted a rebounding picture, Helloworld’s retail agency networks also showed “steadfast resilience”, the company noted, affirming stores were continuing to support their customers despite some multi-store agencies having consolidated and others moved to home-based or broker models.

Assistance has been channelled towards helping agencies return to shopfront models, with Helloworld offering strategic supporting for the opening of new franchise locations in underserviced areas.

Highlights across the business included its Cruiseco wholesale business, with strong summer cruise bookings anticipated from Sep and new year bookings expected from around October.

Air Tickets also performed well, with volumes recently meeting and exceeding pre-COVID levels, while technology investment in the division has helped propel the issuing of more than 10,000 tickets a day via the system.

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