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WWPKG achieved profit turnaround in the first nine months of 2017/2018

February 14, 2018 Financial No Comments Email Email

WWPKG Holdings Company Limited(“WWPKG”, together with its subsidiaries, the “Group”; HKSE: 8069), a leading travel agent in Hong Kong, announced its results for the nine months ended 31 December 2017.

Business Review

For the nine months ended 31 December 2017, the Group recorded total revenue of approximately HK$330.57 million, representing an increase of 17.0% as compared to the corresponding period in 2016, which was mainly due to the following

– sales of package tours for the nine months ended 31 December 2017 improved, when the number of tour participants increased by 16.1%, especially during the Easter holidays’ period coupled with the cherry blossom season in Japan in April 2017, as compared to the corresponding period in 2016; and

– sales of package tours bound for Japan during the nine months ended 31 December 2016 was first negatively impacted by the Kumamoto Earthquake that occurred in April 2016, when the Group’s package tours bound for Kyushu in Japan during the period from 15 April 2016 to 27 June 2016 were completely suspended, and then the appreciation of Japanese Yen (“JPY”) against HK$ between the months of June 2016 and October 2016 led to the decrease in demand of customers who were cost conscious of the Group’s Japan bound tours, especially during the summer holiday’s months of July and August.

As a result of the increased revenue, coupled with the fact that no listing expenses were charged for the period, the Group achieved profit turnaround with its net profit for the nine months ended 31 December 2017 amounted to HK$1.46 million as compared to a net loss of HK$12.56 million for the corresponding period in 2016.

Future Prospects

The Group will continue to put forth its best efforts to drive business performance and growth by:

– introducing new routes (including collaboration with airline suppliers to develop charter flights and/or charter routes), itineraries, activities and hotel accommodations from time to time in order to offer new and/or better travel experience to its customers;

– enhancing its integrated online sales platform through a number of further major enhancements so that such platform will eventually satisfy most of the travel needs of the Group’s customers as a user-friendly and informative one-stop shop;

– boosting its marketing efforts on both digital marketing and through collaboration with its spokesperson to raise the awareness of the Group’s brand and enhance the popularity of its products; and

– exploring investment opportunities that could create operating synergies.

Going forward, the Directors expect that the overall financial performance of the Group for the year ending 31 March 2018 will continue to benefit from the absence of the adversities affecting the Group’s operations in the previous year (namely, natural disasters and substantial appreciation of JPY against HK$) and the non-recurring listing expenses. The Group is in the process of implementing appropriate upgrading of its systems to defend against cyber attacks and will continue to strengthen the security of its systems to safeguard its customers’ information and privacy.

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