UK leads profit boost for Flight Centre
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Flight Centre Limited (FLT) has registered record profit before tax with a 50% growth in its UK business, it has announced.
The group’s profit before tax has come in between £188.8m and £192.1m for the fiscal year ending 30 June, with the UK set to deliver £15.2m in EBIT. Graham Turner, managing director at FLT said the group had not seen a downturn and that although its home-market Australia remains its biggest, all 10 countries it operates in were profitable before tax and interest.
“Our global corporate businesses now generate more than £2.6bn in total transaction value per year and are generally performing well,” said Turner. “We see ongoing opportunities to win market-share in Australia and in all countries. The UK and the USA are obvious opportunities, because of their size and the investment we have made in developing our business in recent years”.
The results are 16-18% higher than last year and means the group is ‘comfortably above’ its full year target of between £175.5m and £182.2m.
Flight Centre is now focused on driving bookings through both its shops and online with extended shop hour; an expanded only offerings and more after-hours sales teams. The group will open its 2,500th shop in the next year and employ 1,000 new sales consultants.