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Published on Tuesday, August 29, 2006

Wotif.com Holdings Limited annouces full year results (FY2006)

Wotif.com (www.wotif.com), Australasia’s leading accommodation website, today announced their full year results highlighting strong revenue growth to $45.5 million, up 42% on prior year, and net profit after tax of $16.5 million, up 38% on prior year.

Highlights

• Strong revenue growth to $45.5 million, up 42% on prior year

• NPAT of $16.5 million, up 38% on prior year

• NPAT 5% ahead of Prospectus forecast issued some 2 months prior to financial

year-end

• 1 cent dividend declared (fully franked)

• Brand recognition at 38% in Australia (up from 30% in July 2005)

• More than 24 million user sessions achieved in the year

• July and August 2006 sales continue strong trend established in FY2006

The Chairman of Wotif.com Holdings Limited, Dick McIlwain, announced a strong trading and profit result for FY2006 driven by substantial growth in  accommodation sold across all regions available on Wotif.com's website.

Wotif.com's Managing Director, Graeme Wood, said "I am very pleased with the  result delivered by the Wotif.com team. We have seen strong performance from all our operations, with room nights sold in Australia up 37%, New Zealand up 42%, Asia up 96%, UK and Europe up 44%, and North America up 78%."

Graeme Wood stated that "on embarking upon the float process some 8 months ago, we believed it would have a positive impact upon our business by raising Wotif.com's profile and credibility. This belief has held true, with our brand awareness increasing to 38% (up from 30% in July 2005)".

He continued, "The value of transactions processed on the website in the year reached a record $363 million, up from $251 million last year. The other pleasing aspect of the result is that the average value of rooms sold on the website has increased by 3.5% over the prior year". (FY2006: $132.57 per room night; FY2005: $128.15 per room night.)

"Our performance over the financial year has been driven by the great rates and savings available on our website from more than 7,900 properties in 38 countries," Wood said.

 

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