Jasons Travel Media first-half revenue down 3.5%

Monday 6th December 2010

Travel publisher Jasons Travel Media reported a 3.5% fall in first half revenue to $8.2 million, as reduced visitor spending levels created uncertainty for some of the company's advertising clients.

The operating surplus before tax was down 2.1% from a year earlier to $1.9m, while net profit slipped 1.1% to $1.2m.

"Despite stable domestic and inbound New Zealand travel markets the reduced visitor spending levels have created uncertainty for some of the company's advertising clients," Jason's chairman Geoff Burns said today.

New Zealand accommodation print revenue softened in the first six months, revenue from South Pacific guides and maps held steady and the VisitorPoint distribution brochure business and local New Zealand guides improved.

The company's web-based products continued to grow in relevance as consumer behaviour moved rapidly to that medium, Jasons said.

The Australian business continued to be challenged with its small base of publications, and the company would accelerate online investment targeted to the Australian travel consumer in 2011.

No interim dividend would be paid, to help development of the company's web-based New Zealand business model, Jasons said.

NZPA

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