Web Travel Group Issues Outlook for First Half of Fiscal 2027; Plans AU$90 Million On-Market Buyback

MT Newswires Live
07/28

Web Travel Group (ASX:WEB) said it expects underlying earnings before interest, taxes, depreciation, and amortization for the fiscal first half ending Sept. 30 to be AU$80 million to AU$86 million despite currency headwinds of about 9% compared with the same period a year earlier, according to a Tuesday filing with the Australian bourse.

The company said revenue for its WebBeds digital travel marketplace is expected to increase 11% to 15% year over year in the six months through September.

Web Travel Group forecasts cash conversion of greater than 100% for the fiscal H1, per the filing.

Additionally, the company plans to launch an on-market buyback program of up to AU$90 million, saying it does not believe its current share price adequately reflects its trading performance and medium-term earnings outlook.

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