Jasons Media back in black

Travel map operator Jasons Travel Media is back in the black after listing on the sharemarket last June.

The Auckland-based travel information company posted a full year net profit of $546,000 -- up more than 400 per cent on the previous year.

Total operating revenue was up 30 per cent at $11.9 million for the year to March.

It was a record year for Jasons, chairman Geoff Burns said.

"The company has completed the March 2006 year strongly with several milestones reached and there has been a very pleasing step back into profitability."

Last year Jasons blamed its expansion into Australia for a net loss of $125,000, despite generating $9 million in revenues. At the end of the March 2005 year, Jasons had debt of $7.7 million, and shareholders funds of $5.4 million.

Extra funds from the public offer had helped the company rebuild its balance shee t, and the operating surplus of $1.75m before interest, tax, depreciation and amortisation had fallen within its prospectus forecast.

Net profit was 23 per cent ahead of forecast, he noted.

A final dividend of 1.5 cents per share will be paid on August 3, bringing the total to 3c per share.

Chief executive John Sandford said that in its first year as a listed company, "we knew it was vital that we continued strong steady growth to deliver on our prospectus forecast".

With slower economic growth and higher travel costs, he warned the domestic travel market would n ow become more challenging , but was confident Jasons could deliver another strong result next year.

"Jasons is not immune from variations in business confidence. However, we've experienced several economic cycles over the past 39 years of our existence."

The company had also diversified onto the internet and over three markets: Australia, New Zealand and the South Pacific, which was still one of the fastest growing tourism regions in the world.

"The New Zealand, Australia and South Pacific Islands tourism market growth is still sound", Mr Sandford said.

- NZPA