JTG ends financial year with solid profit

first_imgJetset Travelworld Group has released its preliminary financial results for the year to 30 June 2011, announcing a profit after tax of AU$19.2 million dollars, an increase of 214 per cent on the year before.   Underlying EBITDAI (earnings before interest, tax, depreciation, amortisation and impairment) for the group rose 26 per cent to $54.9 million, whilst Total Transaction Value for the group increased by 6 per cent to $5.8 billion.JTG chief executive Peter Lacaze called the outcome an “excellent financial result” for the group, highlighting a strong second half of the year which saw profit before tax of $24.3 million, up $17.9 million on the first half. According to the JTG boss, the performance reflected the benefits of the merger of Jetset Travelworld and Stella Travel Services, an integration that had “proceeded smoothly” and had “exceeded” expectations.“The merged Group has created a solid foundation for future growth,” Mr Lacaze said.The outcome reflects nine months of trading for the merged Group and provides a comparison as if the merger had occurred on 01 July 2009 with 12 months trading for each business included.   Despite consumer markets remaining “unsettled due to a variety of economic circumstances”, Mr Lacaze said demand for travel was expected to continue to grow.   “Our forecasts indicate that demand for domestic and outbound travel in Australia is anticipated to grow by 5 per cent over the next twelve months,” he said.“This growth, coupled with the full benefits of the merger related cost synergies results in Jetset Travelworld being strategically well positioned for growth and improved financial performance.” Source = e-Travel Blackboard: M.Hlast_img read more

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first_img Comments   Share   Top Stories Derrick Hall satisfied with D-backs’ buying and selling PHOENIX — Arizona Cardinals receiver Michael Floyd was arrested early Monday morning on DUI charges after allegedly falling asleep at the wheel, police said.The Scottsdale Police Department said Floyd was found asleep at the wheel of his car near Camelback Road and Goldwater Boulevard at 2:48 a.m.An officer waiting to make a left turn was behind Floyd’s car. After the light cycled through twice and Floyd didn’t drive off, the officer approached the car and realized Floyd was asleep. His foot was on the brake and the car was running. Arizona Cardinals wide receiver Michael Floyd (Scottsdale Police Department Photo) Police conducted a roadside DUI test and Floyd was arrested. The arresting officers said in court paperwork that Floyd was slurring his speech, had bloodshot eyes and smelled of alcohol, though he claimed to have only had a couple drinks.There is body camera footage of the incident, but it has not been released.He was cooperative, a spokesman said.Floyd was charged with two counts of DUI and one count of obstructing a roadway and failure to obey a police officer.He was released later Monday morning.“The incident that happened this morning with Michael Floyd, gathering as much information as I can right now on what happened and what our options are going forward,” head coach Bruce Arians said at his Monday availability. “I will probably have more information on that by Wednesday. Right now, it’s way too soon to know what actually happened and what can be done.”Arians did say that he had talked to Floyd on Monday.It is not Floyd’s first drunken-driving arrest. He was suspended indefinitely from Notre Dame’s football team in March 2011 after being arrested while driving at nearly twice the legal limit.“I’ve spoken to Michael Floyd and his mother and, in light of what took place this past weekend, I let him know he has been suspended indefinitely from football team-related activities,” head coach Brian Kelly said at the time. “Football needs to take a backseat at the moment while Michael gets his life in order. … What’s most important right now is Michael focusing on maturing and developing more as a person while working to improve his decision-making processes.”center_img The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Floyd also had several other run-ins with police because of alcohol prior to his 2011 arrest.His suspension was lifted in August 2011. He was selected in the first round by the Cardinals in the 2012 NFL Draft. This season, in the last of Floyd’s rookie contract, the 27-year-old has caught 33 passes for 446 yards and four touchdowns.Floyd and the Cardinals returned to the Valley Sunday evening after losing to the Miami Dolphins 26-23. The defeat dropped them to 5-7-1 on the season, and all but eliminated them from playoff contention.KTAR News’ Martha Maurer and the Associated Press contributed to this report. – / 31 Former Cardinals kicker Phil Dawson retires Grace expects Greinke trade to have emotional impactlast_img read more