The Flight Centre Travel Group (ASX:FLT) withdraws guidance

Company News

by Rachael Jones

The Flight Centre Travel Group (ASX:FLT) has today suspended its 2020 fiscal year (FY20) guidance following heightened uncertainty surrounding the coronavirus.

They lowered its full year guidance to an underlying profit before tax (PBT) between $240 million and $300 million (previously $310million-$350million) when it released 1H accounts on February 27, 2020.

Already they have implemented strategies to protect and grow market-share, while reducing costs and maintaining its solid balance sheet, in a challenging trading cycle.

Up to 100 under-performing leisure shops will close in Australia – looking to transfer TTV & sales staff to other shops, while also continuing to invest in new and emerging models.

Shares in the Flight Centre Travel Group (ASX:FLT) are trading 14.8 per cent lower at $16.71.