Webjet Poised For Lift-Off

Brokers heaved a collective sigh of relief as Webjet ((WEB)) chose to adopt its auditor’s view of the treatment of the Thomas Cook management fees. This means the payment in FY17 is not treated as revenue and instead transferred to financing cash flow and was the main issue in the FY17 results, as it reduced operating earnings (EBITDA) by -$11.5m.

Read More

Webjet In UK Expansion

Online travel agent Webjet has confirmed the purchase of UK-based Jactravel Group (Holdings) for an enterprise value of £200 million (or $A330 million according to a statement to the ASX last night). Webjet says the purchase, which should be completed by the end of this month.

Read More

WEB – RBS Australia rates the stock as Buy

Target $2.00 (was $1.74). The broker notes the company has enjoyed a stronger than expected first quarter to FY10 and to reflect this, it lifts its forecasts by 14% in FY10 and 20% in FY11. The changes push up the broker’s price target on the stock, and with good value on offer given a P/E of around 11.6x for FY10 and a yield of better than 7%, it retains its Buy rating. Sector: Consumer Services.

Read More