Learn To Invest
Stocks Special Reports LICs Credit Funds ETFs Tools SMSFs
Video Archive Article Archive
News Stocks Special Reports Funds ETFs Features SMSFs Learn


Flight Centre shares dip despite record profit

AAP  |  23 Aug 2018Text size  Decrease  Increase  |  
Email to Friend

Page 1 of 1

flight centre aviation tourism travel

SYDNEY [AAP] Flight Centre (ASX: FLT) shares have plunged despite the bookings business lifting full-year profit by 13.9 per cent to $262.9 million and posting record results.

Shares were down 8.8 per cent to $61.22 after the company reported revenue for the year to 30 June also rose, by 6.5 per cent, to $2.95 billion.

Flight Centre said it achieved record total transaction value of $21.8 billion in fiscal 2018, and record underlying pre-tax profit of $384.7 million.

Businesses in the Americas, Europe, the Middle East and Africa generated about 40 per cent of underlying profit and Flight Centre said profit in the Americas more than doubled.

Australia and New Zealand showed slower than normal transaction growth of four per cent, the company said.

Flight Centre declared a final dividend of $1.07, up from 94 cents a year earlier.

UBS analysts said the result was "good" but of "mixed quality" with the international performance strong but Australia below expectations.

The company was the subject of media attention on Wednesday, with the ABC's 7.30 Report running a critical story making allegations about Flight Centre's business practices and culture.


AAP logo image

© [2018] Australian Associated Press Pty Limited (AAP) or its Licensors. This is the Morningstar service with content provided by AAP where indicated. AAP reserves all rights, including copyright, in services provided by it. The information in the service is for personal use only, does not constitute financial product advice (whether general or personal) and may not be re-written, copied, re-sold or re-distributed, framed, linked or otherwise used whether for compensation of any kind or not, without the prior written permission of AAP. You should seek advice from a professional financial adviser before making decision to acquire or dispose of a financial product.

This service is published for general information purposes only without assuming a duty of care. AAP is not in the business of providing financial product advice (whether personal or general advice), and gives no warranty, guarantee or other representation about the accuracy of the information or images contained in this service. AAP is not liable for errors, omissions in, delays or interruptions to or cessation of the services through negligence or otherwise. The globe symbol and "AAP" are registered trademarks.

Email To Friend