FLIGHT CENTRE SKY HIGH

Written on the 10 June 2010

FLIGHT CENTRE SKY HIGH

FLIGHT Centre Limited (FLT) has upgraded its pre-tax profit forecast for FY10 by $30 million, despite travel disruptions from Icelandic volcano Eyjafjallajokull last month.

Managing director Graham Turner (pictured) expects a profit band between $190 million and $200 million, compared to previous targets between $160 million and $180 million.

“Sales volumes have remained healthy globally and trading conditions have gradually started to improve in most of our overseas businesses during the second half,” he says.

“The Australian business has continued to perform strongly and has not yet experienced the slowdown in demand that some retailers have reported recently.

“The strong UK performance is pleasing, considering the economic turmoil locally and in parts of Europe, the short-term disruption to air travel caused by last month’s ash clouds and the ongoing distraction associated with the British Airways strikes.”

He says the New Zealand and Canadian business have recorded significant growth off a low base, US losses have decreased and the UK performance has been the strongest out of FLT’s international businesses.

“In the USA, losses have decreased substantially year-on-year. The corporate business is again trading profitably, wholesaler GoGo continues to contribute positively and the Liberty retail network is on track for healthy profits in the peak May-June booking period.”

He says that despite the unrest in Bangkok there have been few cancellations on Thailand flights, while FLT will be closely monitoring how recent falls in value for the Australian dollar will affect sales.

“Adverse currency movements also continue to be offset by the savings that are available on some international airfares.”

FLT shares jumped 5 per cent to $17.18 per unit today.


Latest News

2017 BRISBANE TOP COMPANIES REVEALED

WHILE Queensland is regarded as an economy in transition with the winding down of the mining boom, the 2017 top 50...

2017 BRISBANE TOP COMPANIES 1-10

FROM insurance and banking to travel, gambling, retail, property and pizza, these "heavyweights" have ha...

2017 BRISBANE TOP COMPANIES 11-20

RETAIL, property, an airline, cars, real estate, software services, energy, agriculture, veterinary services bathr...

2017 BRISBANE TOP COMPANIES 21-30

JEWELLERS Michael Hill International listed in 2016 with a half-billion dollar market capitalisation and a new CEO...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter