Serko shares jumped to a six-month high after the online travel booking software firm said it boosted sales and scaled back spending, allowing it to almost halve its annual loss and affirm its target of making a profit in 2018. Trading revenue rose 9 per cent to $14.3m and operating costs were trimmed by 10 per cent to $18.8m. "Serko, which celebrates its 10-year anniversary, has made strong progress over the last financial year," chairman Simon Botherway said. "The current pipeline of new customers expected to join Serko's platform gives us confidence we will achieve positive profit in the current financial year and cash flow break even for the full year." The company's shares jumped 21 per cent to 46 cents, having already climbed 52 per cent from a record low last month.

Source: New Zealand Herald May 22, 2017 22:33 UTC