Flight Centre results disappoint
Flight Centre yesterday reported disappointing results for the first quarter of the 2005 / 2006 year. Chairman Graham Turner said net profit before tax had fallen 21 per cent to $23 million.
“Earlier this year, we stated we would be disappointed if we could not achieve profit growth in line with TTV growth,” Mr Turner said.
“Currently, we are not achieving this target but it is early days in the financial year and we cannot provide further guidance at this time.”
“It is obviously very early days in 2005/06 but initial results are disappointing,” he said.
“Travel,” Mr Turner said, “you would hardly say it’s booming.”
While leisure and corporate sales were strong, overide payments were lower than expected from key airline partners. Although this comes at a time when Flight Centre has been aggressively pursuing overseas acquisitions, most geographic regions performed in line with expectations.
Turner was asked about shareholder disquiet over some executives remuneration in a disppointing year: “Some rewards,” he said more diplomatically, “seemed to be out of line with the company’s achievements in a challenging year.”
Graham Muldoon
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 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025