Flight Centre profits bolstered by corporate sector

Flight Centre profits bolstered by corporate sector

Flight Centre has reported a 43% rise in profits to A$200 million (£132 million) after tax for the year to the end of June, up from A$140 million a year ago.

The Australian-based retailer posted a pre-tax profit of $290 million (£191 million) and revenue up 9% year on year to A$13.2 billion (£8.7 billion).

Flight Centre managing director Graham Turner said the company’s presence in 10 countries had helped overcome difficult economic conditions.

He described the results as “solid for a business of our size, given the economic uncertainty”.

Turner said: “Both the corporate and retail travel sectors grew during 2011-12.”

However, he said: “Corporate growth was stronger as we consolidated our position as Australia's largest corporate travel manager and won market-share globally.”

Turner added: "We also generated more income from overseas."

He forecast further profit growth in the current financial year as the company continues to expand its shop and online network.

Flight Centre expects to open its 2,500th store this year.


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