Reuters Australia
Australia's Flight Centre sees 40% profit growth
Monday July 21, 12:38 PM
(Adds details)
SYDNEY, July 21 (Reuters) - Australian travel retailer Flight Centre Ltd (ASX: FLT.ax) confirmed its full-year pretax profit will jump about 40 percent, in line with its previous forecast, boosted by healthy global sales, and forecast further growth in 2009.
Flight Centre said on Monday it expected to report a profit of around A$212 million ($206 million) in the year to June 30. It will announce its results on Aug. 26.
In June, it had forecast a 38 percent increase in pretax profit to A$210 million, compared with A$151.6 million the previous year before a one-off gain.
It also reaffirmed its guidance for 10-15 percent profit growth in fiscal 2009, thanks to a strong performance from its established businesses.
Chief Financial Officer Shannon O'Brien said the businesses in South Africa, New Zealand and the UK would drive growth, while in Australia the strong dollar, robust job market and availability of cheap international fares continued to stimulate demand.
He said the restructuring of the recently acquired Liberty Travel business in the U.S. has yet to gain traction, and Liberty is not expected to contribute to profit growth this year. ($1=A$1.03) (Reporting by Victoria Thieberger; editing by Jonathan Standing)
| More Quotes and Company Information: |
Next Article: Aussie stocks up over 3 pct; Platinum Asset falls
Previous article: STOCKS NEWS ASIA-Shares seen buoyed by financials, eyes oil
Top Headlines
NZ employment rebounds strongly in Q2, kiwi up
Thursday August 7, 01:51 PM - Reuters New Zealand
WELLINGTON, Aug 7 (Reuters) - New Zealand employment posted a surprisingly strong rebound in the second quarter, led by gains in the education and finance sectors, dampening expectations the central bank would cut interest rates aggressively. Read More...
US dairy industry set to resist push for FTA
Thursday August 7, 01:35 PM - NZPA
The United States' dairy sector is looming as a major stumbling block for any New Zealand-USA free trade agreement (FTA). Read More...
Pohokura oil and gas reserves lifted
Thursday August 7, 01:17 PM - NZPA
Oil and gas reserves in this country's largest petroleum field at Pohokura, offshore from New Plymouth, have both been lifted. Read More...
Calculators
Copyright © 2008 Yahoo! All rights reserved.
Yahoo!Xtra: A Yahoo!7/Telecom New Zealand Company.