14 Jun 2013

Jasons announces $1.5m loss

1:54 pm on 14 June 2013

Jasons Travel Media has reported a loss of $1.5 million for the year to the end of March but says it has a turnaround plan aimed at returning to profit next year.

The multi-media business which specialises in travel, tourism and leisure says the loss compares with the previous year's profit of $96,000.

Chairman John Sandford says a drop in revenue in Australia and New Zealand, not controlling costs in a timely manner and a $700,000 write off contributed to the result.

Mr Sandford says the company's new exective director James Hall is already making big changes.

He says as part of the growth plan, the company is looking at new acquisitions.