HLO shares hit new high

SHARES in Helloworld Travel Limited yesterday traded as high as $5 each, having risen more than 40% in the last six months.

The increase came as the company held its Annual General Meeting, during which ceo Andrew Burnes reaffirmed previous guidance for 2017/18 of EBITDA profits in the range of $63 million to $67 million.

He told shareholders the company was continuing to focus on lifting revenue and margins.

“It’s cool to have a travel agent again, to assist people to have much richer travel experiences,” he enthused.

Helloworld is undertaking ongoing work to “future proof our agents and the business” through investments in technology, training and new product development and increased brand profile.

Burnes noted there were still some “unrealised synergies” within the business which would help reduce costs to ensure the business is the right size for its revenues, while prospects for expansion include organic growth and acquisitions - including possible offshore additions.

The AGM presentation said that total membership had grown to 2,015, “an increase of 349 from the figure at 30 Jun 2016”.

However that was an overall decline of 34 members since an update in Jan this year, which indicated a total of 2049 travel agents across Helloworld’s branded, corporate, associate, independent and travel broker networks.