Business Description:
Flight Centre Limited (FLT) is Australia's largest traditional high street travel agent. It differentiates its brand into market segments including retail, wholesale, corporate and online.

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 complimentary online and offline product offering is being developed. Flight Centre reported NPAT of $139.81m for the year ended 30 June 2011. Revenues from ordinary activities were $1.86bn, up 4% from last year. Diluted EPS was 138.9 cents compared to 138.8 cents last year. Net operating cash flow was $162.87m compared to $243.12m last year. The final dividend declared was 48 cents, taking the full year dividend to 84 cents compared with 70 cents last year. The company expects to improve on its 2010/11 achievements and starts the new year with a strong balance sheet and sales force, a diverse stable of brands, and with plans in place to drive future growth. Economic conditions, however, remain volatile, particularly in the USA and UK.