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Financial Results for The Half Year Ended 30 September 2018

November 21, 2018 Financial No Comments Email Email

Online travel and expense management leader remains profitable as it continues to expand its market share in Australia and New Zealand and invests in core infrastructure and system features to support growth locally and in the Northern Hemisphere

Highlights from the unaudited six-month period include:

  • Total Operating Revenue1 for the period ended 30 September 2018 at $11.4 million is up 25% over the previous

corresponding six-month period of $9.1 million.

  • Travel booking platform transaction volumes increased by 21% over the same period last year.
  • ATMR2 reached a peak of $19.4 million during the period.
  • Total Income1 from all sources, including grants, was $11.8 million for the period.
  • Net profit before tax (NPBT) for the period was $1 million. Prior year period was $1.2 million.
  • EBITDA3 profit for the period was $1.5 million. Prior year period was $1.3 million.
  • Cash on hand as at 30 September 2018 was $19 million, up from $5.2 million at 31 March 2018 and included

$14.3 million (net of issue costs) from the August 2018 capital raise.

  • Dual-listing on the ASX by way of a Foreign Exempt Listing.

Serko Limited (NZX/ASX:SKO), a leader in online travel booking and expense management for business, today announced the results for the half year to 30 September 2018. Serko’s revenues continued to grow in its home markets of Australia and New Zealand and good progress was made in establishing its presence in the Northern Hemisphere, while remaining profitable.

Transactional volumes across Serko’s travel platforms were up 21% on the same period a year ago. Operating Revenue grew 25% over the previous corresponding period. This is within the guidance range of 20-30% provided for the full year in August 2018. Net profit before tax (NPBT) was $1 million and EBITDA3 was $1.5 million, largely in-line with the prior year and consistent with guidance.

Serko Chairman Simon Botherway said: “We made pleasing progress in the half year and we continue to be the leading online business travel booking platform in the Australasian market. We experienced increased transaction volumes from existing and new customers, additional revenue from travel-related content, such as hotel bookings and airport transfers, as well as strong growth in our Expense platform revenue.

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