Webjet: It just keeps getting better

About the author:

Author name:

By Belinda Moore

Job title:

Senior Analyst

Date posted:

25 May 2023, 7:00 AM

Sectors Covered:

Agriculture, Food & Beverage, Travel and Chemicals

• Webjet (ASX:WEB) reported a strong FY23 result which materially exceeded expectations, despite FX headwinds and restricted airline capacity. Pleasingly, operating cashflow was also materially stronger than expected and has further strengthened its already strong balance sheet.
• Outlook commentary was upbeat and we have made material upgrades to our forecasts.
• WEB has clearly come out of COVID with a materially lower cost base, consolidated systems and a large business in the US. With plenty of market share still to win, we maintain an Add rating on this high quality growth stock.

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