AAP Finance

Helloworld shares jump on bullish forecast

By AAP Newswire

Helloworld shares have recovered their losses of the past five weeks after the travel operator said it expects full-year earnings to rise as much as 12.5 per cent.

Helloworld on Tuesday said that, following finalisation of its major FY20 commercial agreements, it expects earnings before interest, tax, depreciation and amortisation of between $83 million and $87 million.

That compares to $77.3 million for the year to June 30, 2019.

At 1235 AEST, Helloworld shares were 7.0 per cent higher at $4.60.

They last hit that level on August 14 but dipped as much as 8.5 per cent in the intervening period.

"We are confident that given a continuation of current trading conditions we will again have a strong year in FY20," Helloworld chief executive and managing director Andrew Burnes said.

"Our acquisitions are performing well, our retail networks are either holding their own or growing, our supplier relations are very good, our corporate business is doing very well, and across the Tasman our New Zealand teams are going from strength to strength."