exceeds market guidance
Webjet today announced final audited results for the year ended 30 June 2006 · Net profit (before tax) $3.5 million · Net profit (after tax) $2.4 million · Operating cash flow $4.3 million Commenting, Webjet Managing Director, David Clarke, said: “We are delighted to confirm final results for the year which we consider again validate our business model. Full details are set out in the attached filings which include the complete Annual Financial Report. 2006 is the first full year under AIFRS accounting standards and for the purpose of market clarity, we have set out below, a comparison of the year’s results with 2005 AGAAP standards. 2005 AGAAP 2005 adj AIFRS 2006 AIFRS $M Profit before tax 1.38 Less Option cost ¹ 0.64 0.74 3.50 Income tax (expense)/benefit 1.99 ² (1.13) ³ Profit after tax 1.44 2.73 2.37 Cash flow 1.4 1.4 4.3 ¹ Option cost adjustment $640,000 approx ² Represents conversion to AIFRS relating to a future income tax benefit ³ Webjet does not yet physically pay tax but recognises a tax cost We are delighted with the year’s results and also note that trading for the first six weeks of 06/07 has started strongly, indeed, a record week of all time of $4.6m approx. was achieved for the week ending 12 August, however no forecasts are made at this time. Subject to any regulatory change, Webjet intends to continue reporting quarterly financial pre tax results during 06/07.”
David Clarke Managing Director Webjet Limited
WEB Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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