Corporate: Helloworld expects an FY20 earnings uptick and investors are happy
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Helloworld Travel (ASX:HLO) has received a bit of a share price kick this morning after revealing it expects an earnings upgrade in FY20.
Shares jumped as much as 11 per cent when the company said it expected earnings for this financial year to be between $83m and $87m as long as trading conditions did not deteriorate.
That is a 7.4 per cent to 12.5 per cent increase over FY19 earnings of $77.3m, which was already a nearly 21 per cent increase on FY18.
Helloworld shares gave back some of their gains to sit 6 per cent higher.
CEO Andrew Burnes said he was confident of another strong year ahead.
“Our acquisitions are performing well, our retail networks are either holding their own or growing, our supplier relations are very good, our corporate business is doing very well and across the Tasman our New Zealand teams are going from strength to strength,” he said.
“We are in a very strong position to continue the business’ momentum and achieve our targets in the year ahead.”
This followed finalisation of this years’ commercial figures and growth in its member networks through acquisitions which also include Magellan and MTA (Mobile Travel Agents).
Its most recent buy was sport tour-focused Williment Travel Group which was completed in June.
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