Flight Centre upgrades profit forecast

Flight Centre upgrades profit forecast
By admin


Flight Centre has upgraded its profit guidance for the 2011/12 financial year with the retailer expecting a record pre-tax profit as its international businesses thrive despite global economic uncertainty.

The agency today revealed it anticipated a profit before tax between $285 million and $290 million, 16-18% above the previous years’ figure of $245.2 million.

The result marks a considerable increase on its initial projections of $265 million to $275 million.

Managing director Graham Turner said the retailer had not experienced the sales slowdown felt by many during the year, although he admitted economic uncertainty in some markets had resulted in a “more cautious leisure travel customer”.

“While FLT is not immune to external shocks and continues to monitor market conditions as it looks to 2012/13, its brand and geographic diversity can buffer it from the impacts of a downturn in any one country or sector,” he said.

While FLT’s Australian leisure business continued to spearhead the network, he highlighted its international operations as increasingly important with all 10 countries profitable for the second consecutive year.

Record profits were achieved in Dubai, Singapore and China with the UK on track to deliver around $23 million in EBIT, an increase of 50%, and the US likely to contribute around $9 million EBIT, almost double its target of $5 million.

Meanwhile, Turner said the firm had consolidated its position in the corporate travel market, both in Australia and overseas.

“Our global corporate businesses now generate more than $4 billion in total transaction value per year and are generally performing well,” he said.

In addition, it continues to build its online presence with the aim of providing a “blended travel experience” combining its bricks and mortar network with “expanded online capabilities”.

During 2012/13, FLT expects to grow its global sales force by 8-10% employing an additional 1000 sales consultants and expanding its network to 2500 shops.

Its full year accounts will be released on August 28.

Latest News

  • Famil

TravHost launches expert hosting service to transform industry famils

TravHost offers a pioneering service bridging the gap between media professionals, travel agents and tourism organisations, addressing the demand for exceptional famil hosts. Founded by seasoned travel media professionals Fiona Harper and Carolyne Jasinski, TravHost is poised to revolutionise the way tourism organisations and travel companies approach famils. With decades of experience in tourism and […]

  • Tour Operators
  • Travel Agents

Book big and bag a spot of the TTC Tour Brand’s Top Achievers’ Famil

TTC Tour Brands’ Top Achievers Famil incentive is back, rewarding top-selling agents with the chance to embark on an unforgettable trip to a destination that remains a secret – for now. Agents who have sold any Luxury Gold, Insight Vacations, Trafalgar, Costsaver and Contiki, from 1 December 2024 to 14 March 2025, go into the […]

  • Business Travel
  • Conferences

New Zealand International Convention Centre to open in February 2026

The New Zealand International Convention Centre (NZICC) has announced it is opening its doors to New Zealand and world conferences and events in February 2026. The long-awaited NZICC is set to transform New Zealand’s conference and events industry, boosting visitation and the wider economy with its world-class facilities. Located in the heart of Auckland’s CBD, […]

  • Cruise
  • Events

AmaWaterways invites AU/NZ travel trade to An Evening with AmaWaterways events

AmaWaterways has announced the dates of its upcoming An Evening with AmaWaterways events for travel advisors, just over a year after it entered the Australian and New Zealand markets. Dedicated to travel advisors, the events will be held in six cities and will be hosted by AmaWaterways’ regional sales managers, plus feature a presentation from […]

  • Destinations
  • Tourism

Mooloolaba cruise season boosts Sunshine Coast tourism and trade

Mooloolaba is set to welcome a series of cruise ships through February and March 2025, significantly boosting local businesses and tourism to the Sunshine Coast. Their arrival is expected to create a vibrant atmosphere and provide a substantial economic uplift to the region. Viking Sky kicks off the season on Sunday 8 February, with 930 […]

  • Food & Beverage

Little Pete Brewing opens first of its kind open-air bar

Little Pete Brewing has opened a new open-air bar at 543 Step Rd, Langhorne Creek, a must-visit South Australia destination for a drink with a view. The first-of-its-kind open-air bar sits on 8ha, surrounded by vineyards and paddocks, with the Bremer River flowing nearby and framed by majestic ancient river red gums. “We always felt […]

  • Events

CENTREPIECE is set to make a splash at AIME 2025

CENTREPIECE is set to make a splash at AIME 2025 with a one-of-a-kind activation that showcases their world-class event capabilities to inspire event planners and decision-makers. CENTREPIECE is located in the heart of Melbourne & Olympic Parks, Victoria’s epicentre for live sports and entertainment and home to world-renowned venues including Rod Laver Arena, AAMI Park, […]

  • Destinations
  • Tourism

NYC Tourism + Conventions announces two exciting new events

NYC Tourism + Conventions has announced ‘NYC Off-Broadway Week 2025’ and ‘Value Family Activities’ events lined up for this year. NYC Off-Broadway Week 2025 2-for-1 ticket sales for this event have begun with this season’s program featuring 29 Off-Broadway performances, including 18 new participants. The twice-yearly program runs from 17 February through 9 March with […]

  • Events
  • Tourism

Jeju wins bid to host 2028 Asia-Pacific Microscopy Conference

The Korea Tourism Organization (KTO) has successfully secured the 14th Asia-Pacific Microscopy Conference (APMC14) for Jeju in November 2028. This was achieved in partnership with the Korean Society of Microscopy, Jeju Special Self-Governing Province, Jeju Convention Bureau, and Jeju International Convention Center. Korea was selected as the final host after strong competition at the 13th […]

  • Cruise
  • Food & Beverage

Oceania Cruises sets new standard for onboard dining: one chef for every 10 guests

Oceania Cruises, renowned for The Finest Cuisine at Sea, has set a new standard for onboard dining with an exquisite new menu evolution in The Grand Dining Room. Launching on its newest 1,200-guest ship, Allura, in July 2025, the reimagined menus introduce over 270 brand-new recipes, from curated Signature Eggs Benedict breakfast selection to a chic French […]