Today Serko limited announced its interim unaudited results for the six months to 30 September 2015. Key highlights for the trading period include a 69% growth in online travel bookings and a 34% increase in total income, compared to the same period last year.
In addition, the period saw the successful acquisition and integration of one of the company’s Australian competitors, Arnold Travel Technology, which the company acquired from Expedia Inc. in April. The business is tracking towards processing close to US$5bn in the value of total travel booked through its platform in the current financial year, FY16.
Total revenue in period was $6.4m and is within the guidance given at the company’s Annual Meeting in August. The net loss before tax was $3.3m.
The investment in R&D amounted to $3.3m in the six-month period, a 21% increase from the same period in FY15.
Serko’s Chief Executive Officer, Darrin Grafton said “We have made good progress over the last six months building out the foundations of our growth strategy. We are now concentrating on the monetisation of the technology investments that we have made. With the integration of airport transfers, leisure hotel suppliers and the shift towards mobile travel booking the company is very well placed to start to grow its average revenue per booking.”
Key achievements in the period include the completion of the Arnold acquisition, the signing of a global reseller contract with BCD, the integration of Expedia, Wotif and Booking.com content into the Serko Online portal, and the integration of airport transfers into the product. The development of Serko Mobile is ongoing and now includes innovative new features such as Bag Locator.
Looking forward, the company is cautious about the longer lead times for the commercialisation of new products, but remains confident that the future value potential of the technology is significant.”
For more information contact:
Tim Bluett, Chief Financial Officer, Serko
+64 9 309 4754
Serko is Australasia’s leading online travel booking and expense management company for businesses and is listed on the New Zealand Stock Exchange Main Board (SKO.NZ). With its HQ in Auckland New Zealand, and with offices in Sydney Australia, Xi’an City China and Gurgaon, India, Serko employs more than 130 people worldwide.
Serko Online is an integrated Online Booking Tool used by administrators and travellers to book flights, accommodation and car hire from the broadest possible set of travel providers. The OBT ensures that travel bookings comply with corporate travel management policy without limiting the users choice of travel provider.