Flight Centre earnings on track

Flight Centre

Flight Centre has revealed that the company is on track to reach its annual earnings targets, following successful first half results.

The travel company informed shareholders that its year-end goal of increasing underlying pre-tax profits by 8 to 12 percent was promising, the Sydney Morning Herald reported.

The company’s market value has more than doubled over the past year, however, Flight Centre managing director Graham Turner has warned that it would be premature to assume future earnings.

“Comparatives will become more difficult as the year progresses, so maintaining the current trajectory will become more challenging,” Mr Turner said.

Flight Centre hope to realise between AU$370 and AU$385 million in profit before tax.

Flight Centre’s UK and New Zealand businesses are all performing ahead of last year’s results, as well as the company’s Australia operations, despite recent fluctuations in the Australian dollar.

“Results from both our leisure and corporate businesses in Australia have improved year-on-year, with leisure currently recording stronger growth,” Mr Turner said.

Flight Centre also aims to boost its global sales network by between 8 to 10 percent this year, while continuing its preference of increasing longer term dividend yields for shareholders.

Source = ETB News: P.T.
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