Jayride Group Limited (ASX: $JAY) Trading Update

Jayride Group Limited (ASX: $JAY) has released a trading update, reporting a significant increase in contribution profit on a lower passenger trips base as they enter the Northern Hemisphere summer peak season. The company's focus on travel agents has delivered strong results, with the 'Concierge' service offering seeing a steady volume of large order value bookings, and the new agents platform driving more frequent and larger bookings.

Executive Chairman's Commentary on Business Performance

Executive Chairman, Rod Cuthbert, stated, 'We continue to show that, following delivery of the strategic review outcomes earlier this year, we can achieve more with less and that our focus on profitability over volume is working well. As we continue to iterate on these initiatives, we are well placed to capitalize on the opportunity that Northern Hemisphere summer will deliver to us, and we look forward to reporting on that over the coming months.'

Summary of Trading Update and Business Performance

Jayride Group Limited (ASX: $JAY) has reported a significant increase in contribution profit on a lower passenger trips base, validating the outcomes of the strategic review completed earlier this year. The company's focus on travel agents has resulted in strong growth, with the new agents platform driving more frequent and larger bookings. Additionally, improvements in partner channel unit economics and ongoing platform and UX enhancements have further improved contribution profit. The company anticipates capitalizing on the opportunity presented by the Northern Hemisphere summer and looks forward to reporting on its performance in the coming months.