Flight Centre delivers mild profit warning

Flight Centre has delivered a mild profit warning, saying it expects to report an underlying profit before tax for the year to 30 June of $370m–380m, which would be slightly towards the lower end of the previous guidance range of $370m-385m. However, the market evidently took some reassurance from the announcement as the shares have risen slightly. The source of the weakness was given as ‘disappointing leisure travel results in Canada and a tougher trading environment for the large Australia leisure business during the past eight weeks’. ‘While Australian leisure continues to grow and increase market share,’ the company...

Flight Centre has delivered a mild profit warning, saying it expects to report an underlying profit before tax for the year to 30 June of $370m–380m, which would be slightly towards the lower end of the previous guidance range of $370m-385m. However, the market evidently took some reassurance from the announcement as the shares have risen slightly.

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