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Serko Trading Update for FY18

Serko Trading Update for FY18

Auckland, New Zealand. 18 July 2017 – Serko Ltd. (SKO.NZ) Serko expects trading revenue in the first half of the 2018 financial year (1H FY18) to be up approximately 25-30% over the same period for the prior year, excluding gains/losses on AUD revenue hedging. Budgeted $AUD revenue for the year is largely hedged to $NZD at approximately $0.93.

Serko anticipates that EBITDA1 for 1H FY18 will be positive at approximately $1 million and expects a positive NPAT for FY18. Serko recorded an EBITDA loss of $1.75 million for the same period in the prior year.

The second half of the financial year is typically weaker than the first due to the seasonal effects of low volumes of corporate travel in December and January. We also expect to expand headcount and therefore remuneration and benefit costs will be higher in the second half. Accordingly we expect both revenue and EBITDA in the second half of FY2018 to be lower than the first half but about break-even at the EBITDA line. However, some recent contract wins may transition onto the Serko platform over the course of the second half and, depending on timing, this may represent upside in the second half results.

Serko will provide a further update on performance and progress for the FY18 year at the Annual Shareholder Meeting to be held on 23 August 2017

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