Flight Centre Travel Group’s hot off the press financial results show their net full-year profit is up a strong 13.9% to $262.9 million.
The group also recorded a 16.8% year-on-year growth in underlying profit before tax of $384.7 million. This was up 2% on their previous record-breaking figure which they hit in FY14.
Flight Centre said the record growth was near the top of their upgraded guidance for the year and $55 million above their FY17 result.
The group reported a record Total Transaction Value of $21.8 billion, surpassing their previous best result in FY17 by more than $1.7 billion or 8.5%.
Flight Centre’s overseas businesses were responsible for 49% of their TTV during a year of significant disruption and change in Australia.
The TTV growth rate in Australia and New Zealand wasn’t as strong as usual at 4% to $12.3 billion. This was put down to GDS and network changes taking place in the Australian leisure business.
The group said it expected recovery from this in FY19 as their “initiatives gained traction” and growth returned to normal.
Businesses in the Americas, Europe, the Middle East and Africa generated about 40% of underlying profit, while the company’s revenue also rose, by 6.5% to $2.95 billion in the year to June 30.
Flight Centre declared a final dividend of $1.07, up from 94 cents a year earlier.
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