Jasons Travel Media has taken a hit on its core regional and city travel guides in the weaker advertising market.Net profit for the travel guide publisher fell 31% to $553,000 for the year to March 31, even though sales rose 4.2% to $14.6 million.Chairman
Jasons Travel Media has taken a hit on its core regional and city travel guides in the weaker advertising market.
Net profit for the travel guide publisher fell 31% to $553,000 for the year to March 31, even though sales rose 4.2% to $14.6 million.
Chairman Geoff Burns said its travel guides were the division most affected by changes in discretionary advertising customers on both sides of the Tasman.
However, it would keep up its investment in the guides to retain their credibility and he expected earnings to improve in the long-term.
NZAX-listed Jasons is still losing money in Australia and details of plans to restructure operations there will be outlined at next month’s annual meeting.
Mr Burns said revenue, cash flow and profits were expected to be stable in the year ahead.
Further updates on its earnings forecast will be released at the July 28 meeting alongside more developed plans for its website Jasons.com
