Flight Centre profits take off
Flight Centre has upgraded its full-year profit guidance, indicating it has not been affected by a slowdown in consumer spending.
Flight Centre attributed the better earnings to its ‘‘geographic diversity’’ and stronger results from its UK and US operations.
“It is no longer correct to think of (Flight Centre) as purely an Australian-based retail travel agency,” said managing director Graham Turner.
Expansion will continue, with the company expecting to grow its global sales force by between eight and 10%, or about 1,000 new sales consultants
‘‘The UK and USA are obvious opportunities because of their size and the investment we have made in developing our business in recent years,’’ Turner said.
The travel agency expects its profit before tax for the year to June 30 to be between $285 million and $290 million, as much as 18% higher than the previous year’s underlying profit before tax.
Turner said that while Flight Centre did not experience the sales slowdown that retailers in some discretionary sectors experienced during 2011/12, "it is fair to say that economic uncertainty in some markets has created a more cautious leisure travel customer".
by Ian Jarrett
Ian Jarrett
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