Flight Centre Travel Group releases FY19 guidance

Company News

by Anna Napoli

Flight Centre (ASX:FLT) has released a guidance update with underlying profit before tax expected to be within the range of $140 to $150 million for the six months to December 31 2018.

If achieved the result would represent up to 7 per cent growth on the first half 2018 result of $140 million.

The travel company achieved a record 2018 full year profit before tax of almost $385 million.

For 2019 the company is targeting a range of $390 to $420 million which would be a modest increase on this year's result.

The travel company says the broad guidance range reflects the uncertainty surrounding the timing of the Australian leisure business's recovery.

And, the company's AGM is currently underway with Chairman Chris Galanty highlighting Flight Centre's growth as a global player, he says almost half of last year's sales were generated outside of Australia and that percentage is expected to increase this coming year.

Shares in Flight Centre Travel Group (ASX:FLT) are trading 9.73 per cent lower to $46.21

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.