Web Travel Group Ltd. (WEB.AX), an Australian online travel booking company, reported on Wednesday lower net profit in fiscal 2026 mainly due to the absence of prior year's demerger's gain. However, earnings from continuing operations were higher, attributable to cost efficiencies, and revenue growth generated by improved conversions through AI.
On Wednesday, the stocks closed 2.10 percent higher on the ASX, at A$2.43.
In the year, net profit plummeted to A$35.5 million from A$201.5 million in 2025. The prior year's results included profit from discontinued operations of $6.6 million, and net gain on demerger of $183.8 million.
On a continuing ooperations basis, net profit rose to A$35.5 million or 9.7 cents per share from A$11.1 million or 2.9 cents per share in 2025.
The profit growth was attributable to efficiency in costs and higher revenue generated by improved conversions powered by AI.
Underlying net profit was A$85.9 million, compared to A$79.2 million last year. Underlying earnings per share from continuing operations were 23.5 cents, compared to 20.3 cents a year ago.
The EBITDA for this year went up to A$124.5 million from A$77.7 million last year. Underlying EBITDA was A$148.4 million, compared to A$120.6 million last year.
The total revenue for 2026 was A$394.1 million, compared with A$328.4 million in 2025.
Regarding the first quarter, the company said trading conditions continue to be impacted by geopolitical instability in the Middle East.
For fiscal 2027, the company said it continues to expect TTV margins of at least 6.5 percent, while expecting long-term growth in bookings and TTV.
The company plans to provide an update on trading at its AGM on August 27.
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