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General Information

Flight Centre Travel Group Limited
FLT
http://www.flightcentre.com.au
Hotels, Resorts & Cruise Lines
3,418
101

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$33.90 $34.38 $34.38 $33.67 $34.00 598060 $0.10 ( 0.29% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Buy
02/07/2015
5

Company Overview

Business Description
Flight Centre Travel Group Limited (FLT, formerly Flight Centre Limited) is engaged in travel agency business. The Company provides a complete travel service for leisure and business travellers in Australia, New Zealand, the United States, Canada, the United Kingdom, Africa, Middle East, Asia, New Zealand, and Europe. FLT consists of more than 30 brands with four categories of brands which are Leisure, Corporate, Wholesale and other. The flagship brand is Flight Centre leisure brand.
Strategy Analysis
The strategy has been to super size its international market share and become a leader in the corporate and retail travel market. This scale aims to enable the group to enhance its global purchasing power and so negotiate better deals with travel providers. A complementary online and offline product offering is being developed. Flight Centre reported NPAT up 12.5% to $91.8m for the half-year ended 31 December 2012. Revenues from ordinary activities were $1.02bn, up 6.9% from the same period last year. Diluted EPS was 91.2 cents compared to 81.0 cents last year. The net operating cash outflow was $110.8m compared to an outflow of $20.2m in the pcp. The interim dividend declared was 46 cents compared with 41 cents last year. Looking ahead, after tracking at the top end of its guidance range at the end of the first half, the Company recorded strong trading results in January. As a result, the company expects to be in the order of 10% up on the pcp by the end of February 2013. With its key trading months to come, the Company will continue to target a PBT between $305m and $315m for the full year.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 280.3 278.7 10.7% 12.2 167.0 4.9% 100.0%
2015 F 253.6 251.8 -3.8% 13.5 151.0 4.5% 100.0%
2014 A 263.6 261.8 9.9% 18.4 152.0 3.2% 100.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Corporate Travel Management (CTD) $1,045M 0.3695 0.5029 0.3816 52.7424 35.0929 25.4009 1.11% 1.51% 2.14%
Flight Centre Travel Group (FLT) $3,428M 0.0558 -0.0268 0.0903 13.1865 13.5496 12.4269 4.47% 4.45% 4.61%
Mantra Group (MTR) $960M 0.0000 0.0000 0.1781 0.0000 25.4791 21.6265 0.00% 2.90% 3.47%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.92 13.50 3.11 6.84
Market 0.91 16.10 1.33 1.27
Sector 1.39 16.90 2.45 0.84

Directors

Name Position Start Date
Mr Graham Francis Turner Managing Director 17/11/1987
Mr Robert (Richard) Anthony Baker Non-Executive Director 20/09/2013
Mr John Eales Non-Executive Director 13/09/2012
Ms Cassandra Leigh Kelly Non-Executive Director 01/09/2014
Mr Gary Warwick Smith Non-Executive Director, Non-Executive Chairman 02/11/2007

Management

Name Position
A. Flannery Chief financial officer
M. Waters - Ryan Chief operating officer
David C Smith Company Secretary
R. Flint Executive general manager - global corporate and Asia
C. Galanty Executive general manager - UK, South Africa
D.W. Smith Executive general manager - USA

Substantial Shareholders

Holding Name
15,200,000 (15.10%) Gainsdale Pty Ltd
14,817,910 (14.80%) Gehar Pty Ltd
12,989,750 (12.90%) James Management Services Pty Ltd

Calendar of Events

Date Event
23 February 2016 Report (Interim)
17 September 2015 Report (Annual)
26 August 2015 Report (Annual)
26 August 2015 Report (Prelim)
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