Flight Centre profits up 40%
Flight Centre has this morning just released preliminary financial results for 2007/08 and reaffirmed its expectations for 2008/9
The release says that following a solid finish to the year pre tax profits will be expected to be up by 40% when the Company releases its audited full year accoutns on August 26.
The Company believes that its final result will be in the order of $212m, compared to its record 2006/7 result of $151million.
It added that as announced previously, the company will be disappointed if it does not achieve a further 10-15 per cent pretax profit growth during 2008/09″ .
CFO Shannon O’Brien said that FLT’s established businesses in S Africa, New Zealand and the UK, were expected to drive profit growth in 2008/9 along with Australia, where the “strong dollar, near full employment and the availability of cheap international airfares continued to stimulate demand.”
He added, “With the momentum we have built globally and the strategies we have in place for overall improvement, we start 2008/9 in a position of strength.”
“Our businesses continue to perform reasonably well, in particular in our established markets and there is opportunity to grow our leisure, wholesale, and corporate travel brands in all geographies.”
As we continue to develop, our focus will be on organic expansion, but we will also consider strategic acquisitions and joint ventures in niche and growth sectors from time to time.
Shannon O’Brien will also assume the role of CEO for the remainder of 2008 and early 2009 while Graham Turner is on extended leave.
A Breaking News report by the Mole
John Alwyn-Jones
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Airlines suspend Madagascar services following unrest and army revolt
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airbnb eyes a loyalty program but details remain under wraps
Air Mauritius reduces frequencies to Europe and Asia for the holiday season