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Asiatravel.com narrows FY16 losses to $7.9 mil on higher revenue

Benjamin Cher
Benjamin Cher11/30/2016 08:11 AM GMT+08  • 1 min read
Asiatravel.com narrows FY16 losses to $7.9 mil on higher revenue
SINGAPORE (Nov 30): Asiatravel.com says losses for FY16 narrowed to $7.9 million from $10.1 million in FY15 on the back of higher sales and other income.
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SINGAPORE (Nov 30): Asiatravel.com says losses for FY16 narrowed to $7.9 million from $10.1 million in FY15 on the back of higher sales and other income.

Full-year revenue rose 10.7% to $97.6 million, driven by a 98.1% surge in revenue to $34.1 million from its online B2B business as TAcentre.com broke into more markets and take-up rate from travel agencies increased.

Other income also surged 253.6% to $5.3 million mainly due to provision of technical support to a China-based travel agency. Other operating expenses dropped 13.5% to $12.6 million mainly due to cut backs on advertising and promotion expenses to $2.7 million from $3.7 million.

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