Flight Centre (FLT) - FY15 result in line and outlook comment stronger than market expectations

Bell Potter

Stockbroker

Flight Centre had an income margin of 13.6% as compared to 14% in pcp which contributed to the lower underlying profit. The lower income margin reflected lower commission earnings in Australia, a slight change in product mix brought about by rapid corporate travel growth, and recognition of an additional component of accommodation TTV for the first time. Net operating cash flow up 60% to $362.5m. FLT sees solid growth prospects globally during 2015/16 and will target an underlying PBT between $380million and $395million for the year to June 30 2016. If achieved, this will represent 4%-8% growth on the $366.3million statutory PBT achieved during 2014/15. FLT said it started the year “reasonably” and “tracking in-line with Profit before tax growth target”. Read the full summary here: (VIEW LINK). The full report will be available exclusively to Bell Potter clients tomorrow.


1 stock mentioned

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.