Flight Centre Travel Group has this morning revealed a record-breaking TTV of $10.16 billion, up almost 9% on the same period last financial year as part of its half-yearly results.
The company has also boosted its net profit 37.2% to $102.2 million. This was attributed largely to US tax rate changes and the company’s strong performance in the UK.
In a statement on the ASX this morning Flight Centre CEO Graham Turner said the company should be pleased with its performance to date, given it was tracking “at or near record levels in most key financial areas”.
The strong financial results have seen Flight Centre lift its annual guidance with the company now expecting an underlying profit before tax between $360 million to $385 million up from a range of $350 million to $380 million.
“Given the strategic progress we have made and our positive start to the year, we now believe that our profit will finish slightly higher than initially expected and we have adjusted our guidance accordingly.”
Flight Centre Chief executive Graham Turner.
The results have also seen Flight Centre declare a fully franked interim dividend of 60¢ per share, 33% higher than the same period last year.
Flight Centre also revealed this morning that it would now be putting energy into growing market share within the Australian leisure business.
This will include the massive news of merging smaller brands to create three leisure “super networks” with all Escape Travel and Cruiseabout stores to be rebranded as either Flight Centre or Travel Associates.
WHAT?
Yes, you read correctly – Escape Travel and Cruiseabout stores will be rebranded as either Flight Centre or Travel Associates.
You can read more about that big news HERE.
The news comes after a very promising start to 2018 with a huge demand for bookings recorded at this season’s World Travel Expo.
READ: EXCLUSIVE: Flight Centre World Travel Expo’s begin with a booking frenzy
READ: Flight Centre says goodbye to Escape Travel, Cruiseabout brands