Jasons' revenues up, profit down

Jasons Travel Media reported a small lift in full-year revenues but a fall in net profit, because of economic conditions and costs associated with new activities.

Operating revenue for the year to the end of March was $14 million, a rise of 2.6 per cent from the previous year, and net profit fell 17.9 per cent to $806,000.

The company yesterday said it was expecting stable performance in both revenues and profitability in 2010.

Some uncertainty remained around the short-term prospects for the tourism sector, but with the benefit of a full year's contribution from last year's acquisitions and other new products, Jasons expected to match the 2009 result, chief executive Matthew Mayne said.

The company was looking into expansion opportunities in the Australian market.

Jasons chairman Geoff Burns said that in the latest year, demand fell for advertising in smaller publications, leading to lower than expected revenues. Several new publications launched in the second half had yet to reach targeted revenues but were important investments for the company's future.

- NZPA