Why it matters: travel agencies faced large losses during the COVID-19 pandemic
Helloworld has twice upgraded profit expectations for this year as demand rises
The increase in sales is being driven by more tourism, benefiting the economy
Helloworld, one of the country’s largest travel agencies, says it is operating profitably again across all of its markets after upgrading guidance as spending on tourism rises.
The company said it expected underlying earnings before interest, tax, depreciation and amortisation to be between $42 million and $45 million in the 12 months to June 30, from total sales of more than $2.5 billion. Last year, it reported a loss at the EBITDA level of $10.6 million.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
