The Flight Centre Travel Group Ltd (ASX: FLT) share price has flown 4.5% higher due to the travel agent’s half year report.
What Flight Centre Reported
Flight Centre reported that its revenue increased by 7.4% to $1.46 billion and statutory profit declined by 17.1% to $84.8 million. However, the company said that underlying profit increased by 0.7% to $140 million.
Flight Centre has declared a 60 cents per share interim dividend, the same as last year, and a $1.49 per share special dividend.
The company said that the result was underpinned by Flight Centre’s corporate travel segment as it cemented itself as a one of the four biggest global travel management businesses.
However, Flight Centre said that the Australian leisure result was disappointing with a decreased profit.
Flight Centre Managing Director Graham Turner said: “FLT’s globalisation is evidenced by more than 50% of 1H sales being generated overseas, by the sustainable growth that our businesses are delivering in the EMEA and the Americas and the improvements we are seeing in Asia.”
Outlook
Flight Centre said it is tracking towards the bottom of its guidance of underlying profit before tax of between $390 million and $420 million.
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