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REPORTING SEASON: Flight Centre (FLT)

Brought to you by CommSec

 

Figure 1: Flight Centre 12 month chart

Australia’s largest travel agency, Flight Centre (FLT) delivered another strong Full Year result.

FLT’s group *Total transaction value lifted by 7.7%. Flight registered a 8.7% lift in revenue backed by strong sales growth both online (up 20%) and in store.

Australian TTV growth of 9% as leisure travel performed strongly during the 2nd Half that more than offset a slight fall in domestic corporate travel.

The fall in the Aussie dollar has not really dampened demand and it has helped lift profits in FLT’s offshore units.

Flights Centre international EBIT was up 20% to $74.4Million the only areas of weakness were sales from Canada & Dubai sales were lower.

Flight Centre regained market share and saw a 32% pick up in earnings from its UK business.

US EBIT lifted by 11% to $10.9Million and FLT opened new stores over the year.

Flight is targeting $370?$385m profit before tax, assuming stable trading conditions excluding any significant unforeseen items.

FLT declared a 2H dividend of$0.91c a share to be paid on October 18th 2013.

 

You can see all of CommSec’s reporting season analysis by clicking here.

Juliana Roadley, Market Analyst,