Tough year ahead, warns Flight Centre

Tough year ahead, warns Flight Centre
By admin

Flight Centre has predicted a tough year, particularly in Australia, despite forecasting another record year of profit.

The retailer this morning posted a pre-tax profit of $290.4 million, up 36.3% on last year.

Total transaction value (TTV) climbed 8.5% to $13.2 billion, of which $7.8b was generated in Australia.

Australia’s earning before interest and tax hit $216.7m.

Managing director Graham Turner said the company was targeting profit growth of between 5% and 8% in this current financial year.

“We’ve had a couple of pretty good years and we feel that this next year is going to be pretty tough overall, particularly in Australia,” he said. “We see corporate going ok, but leisure I think will continue to get harder over the next year at least. But we still have reasonable opportunities for growth in our overseas markets.”

Flight Centre reported a FY12 profit in all 10 countries is operates with record results in Australia, UK, US, Greater China, Singapore and Dubai.

Online TTV climbed 25% during the year although it still represents a relatively small proportion of overall value.

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