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Jasons Travel Media has announced an improved half-year result but is wary of what effect a downturn in tourism may have on its customers.
Half-year results released yesterday for the six months to the end of September revealed a net surplus before tax of $2.195 million, compared with $1.978 million for the same period last year.
Consolidated operating revenue was $8.22 million (last half year $7.819 million) and directors will be paying out an unchanged interim dividend of 1.5c a share, or a total of $297,500.
Jasons shares traded at 75c yesterday.
The company, which produces accommodation directories, touring maps and guides and has a travel channel and website, this year saw its chief executive Steven Joyce resign to successfully run for Parliament. He was replaced by Matthew Mayne in September.
Chairman Geoff Burns said the performance of major publications remained strong and ahead of last year's revenue.
Jasons expected to declare a full-year net surplus before tax of about 5 to 10 per cent ahead of last year's result of $1.552 million.
"However, the current economic climate is generally expected to have a negative impact on the travel, accommodation and activities businesses, which make up Jasons' customer base."
In the first half of the year Jasons bought a distribution franchise in Rotorua. The Rotorua Dining Guide and Rotorua What's On will be published for the first time in what is an important tourism market.
Commission-free instant online accommodation bookings were successfully launched and the development has been introduced into Australia.
Commission-free booking of visitor activities should be online this year.
- NZPA
