Flight Centre on target for record profits

 

 
  Agency group on track to deliver record results.  
     

Flight Centre is on track to achieving record profits for the third consecutive year, with positive momentum through May-June leaving the group profitable in 2012/13.

According to a market update, unaudited trading results for the year to 30 June 2013 currently point to an underlying profit before tax (PBT) between AU$338 million and AU$342 million, up 17 percent on the record AU$290.4 million achieved during 2011/12.

The underlying PBT is in line with the group’s forecasted guidance of AU$325 million to AU$340 million, which was upgraded in May this year after reporting all ten countries of business were profitable and on track for record results.

Flight Centre director Graham Turner said Australia and the UK were the company’s “major profit driver” and along with the USA are responsible for generating up to 80 percent of global sales during the year.

The USA is now the company’s second largest country by sales, contributing AU$9.9 million in earnings before interest and taxes, Canada and Dubai delivered healthy sales growth, but bottom-line results were down year-on-year.

Flight Centre is due to release its audited earnings on 27 August 2013.

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