Serko Limited (NZX: SKO) Trading Conditions Update

Thursday 3rd December 2020

Serko Limited (NZX: SKO ), a leader in online travel booking and expense management for business, today provided an update to keep the market informed on current trading conditions.

Mr Grafton, Serko’s CEO said: “We have seen a gradual improvement in transaction booking volumes following the easing of domestic travel restrictions within Australia over the past couple of weeks. Transaction volumes increased to 44% of prior year volumes for the month of November (up from 35% of prior year volumes for the month of October). The past week has seen some daily transaction rates around 50% of prior year volumes.

“New Zealand domestic travel increased to 85% of prior year volumes for the month of November (up from 76% of prior year volumes for the month of October). Australian domestic travel increased to 33% of prior year volumes for the month of November (up from 26% of prior year volumes for the month of October).

“While future trading patterns remain unknown, it is reassuring to see Australian travel bookings start to recover with the current easing of domestic travel restrictions in that market.

“During our recent earnings announcement we also advised that it was expected that new customers wishing to set-up a business account on the Booking.com website would be directed to the new Booking.com for Business platform powered by Zeno in select markets imminently.

“We are pleased to confirm that new customers in select global (predominantly English-speaking) markets, are now being directed to the new Booking.com for Business platform powered by Zeno. The rate of new organic sign-ups remain uncertain and will be dependent on local travel restrictions and trends in each relevant market.”

See the link below for more details:

Trading Conditions Update

Source: Serko Limited

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