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FLT, FLIGHT CENTER LIMITED
plastic
post Posted: Aug 24 2010, 03:26 PM
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This thing just keeps getting better.

QUOTE
<H1 class="cN-headingPage prepend-5 span-11 last">Flight Centre soars on record ticket sales </H1>
Matt O'Sullivan
August 24, 2010 - 11:16AM Travel agency group Flight Centre has nearly quadrupled its annual profit to $140 million after record ticket sales helped pull its operations out of one of the worst downturns in travel due to the global economic downturn.

[b]Shares[/b] in Australia’s largest travel agency surged 4.4 per cent, or 82, to $19.27 this morning, after its delivered a record full-year profit. Other travel-related stocks, Webjet and Wotif, are largely flat this morning.

Flight Centre said it expected further profit growth this financial year ‘‘despite some ongoing volatility’’.
It is forecasting a pre-tax profit of between $220 million and $240 million in 2010-11, compared with about $199 million in the year to June 30.

The managing director, Graham Turner, said the company had notched up record ticket sales despite the fact that global economic conditions were yet to fully recover.

The travel company has been benefiting from a strong Australian dollar encouraging people to travel overseas. Flight Centre makes a substantial portion of its earnings from outbound travel.

Mr Turner said Flight Centre had started the new financial year with ‘‘good momentum’’ and recorded healthy profit and sales results in July.

‘‘While it is extremely difficult to forecast results at this early stage, we will be disappointed if we don’t improve on last year, given the momentum established in 2009-10,’’ he said.

The company’s US business – the second-largest after Australia – narrowed its losses to $2.3 million for the year after its corporate operations returned to profitability in the second half.

Its Liberty retail business in the US was also profitable in the second half, which is traditionally the peak booking season for US travel agencies.

Liberty has dogged its Australian parent since it was bought for $US135 million in late 2007.

Flight Centre will pay a final dividend of 44 cents, fully franked, a share on October 7, taking the payout for the year to 70 cents. It compares with a payout of just 9 cents in 2008-09.

mosullivan@smh.com.au




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What did Uncle Mel do to us?
 
flighty
post Posted: Jul 24 2010, 08:14 AM
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http://www.theaustralian.com.au/business/f...x-1225896284234

IMPROVING performance in the Australian market and a pick-up in business travel are boosting earnings at travel agent Flight Centre.

Potential threats from online competitors and souring consumer sentiment are yet to have an effect, says managing director Graham Turner.

In an exclusive interview with The Weekend Australian during the company's annual "global gathering" of 2700 top performing sales staff in Las Vegas, Mr Turner said he was unconcerned at internet giant Google's purchase of US airline data provider ITA, which Credit Suisse had described as a concern for the travel industry.


 
blueice
post Posted: May 25 2010, 02:28 PM
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In Reply To: plastic's post @ May 25 2010, 02:25 PM

Must have been due to all those smarties that sold in May and gone away...............lucky, lucky them..............

 
plastic
post Posted: May 25 2010, 02:25 PM
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Can't keep this one down. No recession going on here. If there is it must be the airlines who are doing it hard not the middle man.

http://www.smh.com.au/business/flight-cent...00525-w9tt.html

Flight Centre shares take off on guidance

Flight Centre has upgraded its fiscal 2010 guidance as the company continues to trade ahead of expectation.

Flight Centre said that based on current trends, it should achieve a pre-tax profit of between $190 million and $200 million, excluding any major non-recurring items that may arise.

Previously, the company was targeting a $160 million to $180 million result.



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What did Uncle Mel do to us?
 
plastic
post Posted: Aug 12 2009, 11:01 AM
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In Reply To: hungry's post @ Aug 11 2009, 10:11 PM

Still going mental. All those naked shorts. Will be a few more of these around.





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What did Uncle Mel do to us?
 
hungry
post Posted: Aug 11 2009, 10:11 PM
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Glad I closed out that short. That's some rally today on bloody big vol!

 

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plastic
post Posted: Aug 11 2009, 07:18 PM
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Lazards must be pleased. If the recession were as bad as they say you'd expect this to be hurting but they're not.


Flight Centre shares surge on updateAugust 11, 2009 - 5:22PM Shares in Flight Centre surged after Australia's largest travel agency said it was on track to post annual net profit in line with guidance and expected further growth this year, as market conditions stabilise.

Flight Centre said the timing of a full recovery in the travel market was uncertain but its July performance was encouraging and it had agreements in place with Qantas and most major suppliers.

Pre-tax profit for 2008/09 is expected to be between $38 million and $40 million, after $60 million in non-recurring impairment charges and write offs, including $14.5 million in new project writedowns, it said on Tuesday.

Net profit is likely to be within current guidance at $36 million to $40 million, Flight Centre said of its results to be released on August 25.

Looking ahead, it now sees 2009/10 pre-tax profit in a range of $125 million to $135 million.

Flight Centre's shares surged after the announcement and closed up 21.7 per cent, or $2.10, at $11.80 - its highest close this calendar year.

However, the company does not expect to declare a 2008/09 final dividend, continuing its strategy of preserving cash.

Managing director Graham Turner said non-trading factors had significantly affected its result in comparison to 2007/08, when it posted a net profit of $143.8 million.

But the company's underlying performance was reasonable, he said.

"Despite very challenging market conditions, we maintained income margins, cut costs and capital expenditure and finished the year with more cash and less debt than we had six months ago,'' Mr Turner said in a statement.

"While timing for a full recovery remains uncertain, some positive signs are emerging.

"Conditions appear to be stabilising as cheap airfares and holiday deals begin to stimulate demand.''

Results in the US also appear to be improving after heavy losses and one-off expenses during the first three quarters of 2008/09, he said.

"Globally, we expect further improvement as conditions gradually rebound, changes we have made gain traction and as the $30 million in annual operating costs removed in the US flow to the bottom line.

"While it is difficult to accurately predict 2009/10 results at this early stage, we have initially forecast a $125 million-$135 million pre-tax profit.''





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What did Uncle Mel do to us?
 
hungry
post Posted: Jun 17 2009, 12:33 PM
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It's a good shorting candidate imo.
Some -ve fa with the Singapore Airline fiasco.
Lots of -ve ta with a shooting star candle on the 12th, a selloff on vol the following day as confirmation. Bearish divergence macd on all the highs since 27/3 & the 200ema now acting as resis.

 
sabretoothed
post Posted: May 25 2009, 12:33 PM
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In Reply To: plastic's post @ May 25 2009, 08:27 AM

t/o??? Who'd want to buy them. They've probably overexpanded in a market that is contracting. People that never used the internet are forced to by airlines to get the cheap tickets, then they think hey I can book the hotel as well.

Wotif.com.au is probably better, even though it's pricey its going to grow. TVL is now gone (off the asx) so you can't get that one anymore



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I confirm that am not a licensed investment adviser , or have any formal training, to give investment advice. Therefore you must seek professional advice. I may hold this stock. Jesse Livermore is my Hero. Australia is the next Iceland!
 
macduffy
post Posted: May 25 2009, 10:49 AM
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In Reply To: plastic's post @ May 25 2009, 08:27 AM

I'd be surprised to see a takeover bid, except perhaps from the controlling directors.

Before the proliferation of online bookings, FLT held a commanding position in the industry.They still have this in a shrinking "across the counter" business but they're just one player, albeit an important one, in the growing online sector.

 
 


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