Flight Centre hits profit record

Flight Centre hits profit record
By admin

Flight Centre has hit a pre-tax record profit of $290.4 million in the 12 months to June 30, up 36.3% on last year.

The result beat the retailer’s initial full year target of between $265m and $275m and was $5m beyond the top range of its upgraded forecast.

Net profit after tax topped $200m for the first time, a 43% rise on 2011/12.

Flight Centre managing director Graham Turner said: “Both our retail and corporate travel businesses are now among the largest businesses of their kind in the world, which means we do not rely on one sector.”

The retailer’s overseas divisions contributed more than $60m, double that of two years ago “and a promising future sign”, Turner said.

Australia reported record results as did the UK, US, Greater China, Singapore and Dubai.

Flight Centre has targeted a pre-tax profit of between $305m and $315m this financial year “assuming stable conditions”.

More later in today's Travel Today.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

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