Helloworld has upgraded its FY23 earnings guidance to between AU$42m – $45m (NZ$45.3m – $48.5m) for the year to 30 June 2023, up from a loss of A$10.6m last year.
Helloworld shareholders will meet at the end of July to vote on the travel agent’s A$70m ($75m) acquisition of Express Travel Group.
In his address to the agent’s AGM, Andrew Burnes paints a picture of “huge pent up demand” and accelerating bookings.
Helloworld’s New Zealand business saw revenue plummet 83.5% to A$7.8m in the year to June 2021, compared with A$47.3m posted in FY20.
Major staff restructures, wage subsidies, hiring freezes and a reduction in director salaries were amongst the ways Helloworld cut costs as it responded to the Covid-19 crisis.