Travel agency Jetset Travelworld will continue to cut costs while it considers ways to boost business.

Jetset on Tuesday booked a net profit of $8.6 million for the six months ended December 31, down 22.9 per cent on the net profit of $11.2 million in the prior corresponding period.

Profit fell as average fares dropped and government spending on travel declined.

But the company said it had reduced costs by 10 per cent, compared to the first half of the prior financial year.

Jetset said it was continuing to work on a "major business transformation" program which began in September 2012.

"Whilst a number of cost-reduction initiatives will continue to be pursued, the significant transformational initiatives are still in their infancy, and the full cost and timing of implementation is being developed," chief executive Rob Gurney said in a statement.

Jetset will pay an interim dividend of one cent per share, compared to 1.1 cents per share in the first half of the prior financial year.

Jetset shares were two cents higher at 43 cents on Tuesday.


Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.




If you have any questions or concerns please email us on


  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.