Asiatravel.com is a leading pan-Asia online hotel and travel reservation service provider. It is supported by a network of operation and customer services offices in Singapore, Malaysia, Indonesia, Thailand, Philippines, Hong Kong, China and UAE. It has transformed itself from a niche hotel reservation service provider to a total hotel and travel reservation service provider. We offer flights with discounted airfares for all major airlines departing from 11 countries in Asia. These flights can be booked on an instant confirmation basis. We have expanded our destination footprint from 8 core destinations in Asia to worldwide destinations. We now offer a portfolio of over 50,000 hotels worldwide that can be booked on instant confirmation and last minute basis including bookings for same-day check-in.
Our Group’s revenue increased by 21.58% (S$15.2 million) to S$85.7 million for the financial year under review, as compared to S$70.5 million recorded last fiscal year. This achievement was made possible by the continuous growth of our business. The Group’s net profit after tax increased by 21.77%, recording the figure at S$5.51 million, in comparison to S$4.52 million in the previous year. This was a direct result of the increase in the Group’s revenue. Despite the global economic slowdown and external negative factors, the Group increased its online room night bookings by 22% year-on-year. Air ticket sales similarly recorded an increase of 30% in the fourth quarter from the preceding quarter.
The Group managed a record profit of S$5.5 million for the financial year ended 30 September 2008. This is an increase from S$4.5 million from the previous year. We continue to share the fruits of our success with our shareholders. The Group is declaring a dividend of 1.1 cents per share for the second half of FY 2008 bringing the full year dividend for FY 2008 to 2.0 cents per share. This translate to full year dividends of approximately 71% of the Group’s profit attributable to shareholders.
The user-friendly, scalable, reliable and state-of-the-art booking engine of Asiatravel.com and its established brand, worldwide hotel destinations footprint, instant confirmation of flight reservations departing from 11 countries in Asia have strengthened its lure of customers to sustain the Group’s growth momentum. Despite the global economic slowdown and many negative factors, the Group increased its online room night bookings by 22% year-on-year. Air ticket sales also recorded an increase of 30% in the fourth quarter from the preceding quarter.
The Group is now embarking on the demand side of its growth strategies. We will team up with partners who have notable and high traffic websites to reach new customers. Such partnership initiatives will enable us to leverage on the visitorship and user base of our partners’ websites to acquire new customers without increasing our spending on marketing and advertising.
In addition the Group will continue to develop and enhance its booking platform to include multilanguages website to reach markets in Asia in their local languages. This will further enable us to reach more new potential customers.