Flight Centre (FLT) shares take flight

Stock

Flight Centre (FLT) $48.00 as at 22/08/2019

Event

Travel booking group Flight Centre is one of the best performers in the ASX200 today, trading around 10% higher in the session thanks to a solid full year report.

The key line for Flight Centre is the pre-tax profit number which was right in the middle of guidance and met expectations. The result was driven by an 8.8% lift in total transaction volume despite a low number of sales staff. The leisure market has been under pressure over recent years and TTV was flat again for FY19, and the company is continuing to shut, re-brand or re-locate stores in an effort to reduce costs.

The Australian business saw PBT down 30% as a result of the subdued trading conditions, however growth in the Americas offset much of the fall. Corporate travel has also been a growth driver for Flight Centre with a number of recent acquisitions in the space, contributing to nearly 40% of profit at the result.

Flight Centre (FLT) Chart

Flight Centre Daily Chart

Market Matters Take/Outlook

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