Jetset Travel World $8.6m Profit Down 22.9% 1H2013

Submitted by Share Trading on 4 March, 2013 - 08:52

Travel Agency Company Jetset Travel World (ASX:JET) have announced its half year financial results for 2013 to its shareholders and investors on the Australian stockmarket.

  • Jetset Travel World Net Profit of $8.6 million, down 22.9 percent from 11.2 million on the previous corresponding period.
  • Jetset chief executive Rob Gurney said, "Whilst a number of cost-reduction initiatives will continue to be pursued, the significant transformational initiatives are still in their infancy, and the full cost and timing of implementation is being developed."
  • The company has reported it had cut costs by 10 percent and it will continue with its cost cutting programs.
  • Profit fell as cost of average fares decreased and government spending on travel fell.
  • Jetset Travel World will pay an interim dividend of 1 cent per share.

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