Flight Centre's FY profit jumps
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Flight Centre (FLT) is on the hunt for acquisitions as it targets profit growth of 12% in the current year, after posting a bumper profit for the full year ahead of its forecast.
The company's underlying profit before tax (PBT) leapt 18.2% to $343.1 million, higher than its upgraded forecast for between $338 million and $342 million.
Net profit grew 23% to $246.1 million, including a $6 million non-cash injection from revaluations of its head office properties, from $200.1 million in the prior year, when analysts were estimating it to be around $238 million.
Total transaction value (TTV) increased 7.7% to $14.3 billion, while revenues grew 8.7% to $2 billion in the period, from $1.8 billion.
It will pay a final dividend of 91 cents, compared to 71 cents last year.
For the current financial year Flight Centre set guidance between $370 million and $385 million, at the upper end of analyst estimates for $375 million.
The company doesn't think the Australian dollar's recent decline will significantly effect its business or fundamentally change Australians' travel habits.
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