Flight Centre (FLT) flags coronavirus impact

Flight Centre (FLT) -2.38%

The travel bookings company briefly halted trading mid-afternoon today to update the market ahead of their 1st half result talking up the first 6 months of the year, but pouring cold water on full year guidance as the coronavirus impacts travel. the company expects first half to come in slightly ahead of the midpoint of profit before tax (PBT) guidance of $90m-$110m in the first half. MD Graham Turner also talked down the full year guidance of $310m-$350m, although he stopped short of putting a figure on its impacting, saying it was too early to tell the full extent of the issue.  Flight Centre have a small corporate travel segment in China, Singapore and Malaysia which makes up just 2.5% of total transaction volume, however the impact will likely spread to corporate and leisure bookings across the companies wider geographies. FLT expect TTV to increase over 11% globally to reach a record $12.4B for the group in the first half.

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