Solid year for HLO
A spate of acquisitions by Helloworld Travel Limited over the last 18 months or so was cited as the key driver for a 9.1% uplift in Total Transaction Value (TTV) for the company when it reported its annual results last month.
TTV grew to $6.5 billion, with contributions from Magellan Travel Group, Asia Escape Holidays, Flight Systems (Skiddoo) and Show Group,
and pre-tax profit jumped 21% to
There were a few intriguing insights in the results, which indicated that the company’s 50% stake in MTA Travel contributed $1.3 million to the overall result, while a $2.5 million “contingent consideration” payable in connection with the Asia Escapes deal did not eventuate because the business failed to reach targets specified in the sale contract.
The figures also revealed that Helloworld paid $7 million for Show Group, $2.6 million for 60% of Asia Escapes, $1.4 million for Flight Systems and $800,000 for NZ agency Williment Travel, while receiving $2.4 million when it sold Insider Journeys.