Flight Centre revises profit expectations again

first_img<a href=”http://www.etbtravelnews.global/click/2ad22/” target=”_blank”><img src=”http://adsvr.travelads.biz/www/delivery/avw.php?zoneid=10&amp;cb=INSERT_RANDOM_NUMBER_HERE&amp;n=a5c63036″ border=”0″ alt=””></a> Source = e-Travel Blackboard: J.L Flight Centre Limited is expecting an even larger pre-tax profit, the company upgrading its guidance yesterday for the 2009/10 fiscal year to between $190m-$200m.In January, FLT had revised its profit expectations from and initial target of $125m-$135m to $160m-$180m.The new guidance will represent a 90%‐100% growth on the company’s $99.8million normalised 2008/09 pre‐tax result.“Sales volumes have remained healthy globally and trading conditions have gradually started to improve in most of our overseas businesses during the second half” said Turner.“The Australian business has continued to perform strongly and has not yet experienced the slowdown in demand that some retailers have reported recently.“New Zealand and Canada have recorded significant year‐on‐year growth from a relatively small base, while the UK business should again make the largest profit contribution of any of FLT’s international businesses.“In the USA, losses have decreased substantially year‐on‐year. The corporate business is again trading profitably, wholesaler GoGo continues to contribute positively and the Liberty retail network is on track for healthy profits in the peak May‐June booking period.”FLT added the company was likely to hold up to $1billion in company and client cash at June 30 this year, and expected to have a positive operating cash flow for the full year.last_img read more