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News 1/05/2006   

Jetset forecasts 35 per cent profit increase
BYLINE
 
The Jetset Travelworld group is forecasting a full-year profit increase of approximately 35 per cent over last year.

JTW reported a $5.7 million after-tax profit for the 2004/05 financial year.

Executive chairman Brian Wild said the forecast result for 2005/06 was “highly satisfactory” and augured well for the future.

"On the basis that the forecast positive trends reinforced by our third quarter results continue, we will be looking at a record result for the group," Wild said. "Our overall cash position continues to be very positive as a result."

Wild said the result would reinforce “the group's ability to continue to explore business opportunities”.

JTW notched a $3.1 million profit for the half year ended December 31 - up 33.3 per cent on the corresponding period in 2004.

Chief executive officer, Joe Esposito, attributed the half year result to improved preferred supplier overrides, the association with the FlyBuys loyalty program and sponsorship of Channel Seven’s Sunrise program.

1 May 2006


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