News: Flight Centre posts bumper FY profit

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Flight Centre Limited (ASX:FLT) has boosted its full year net profit by 23 per cent to $246.1 million and finished fiscal 2013 with a $1.26 billion global cash and investment portfolio.



The travel agent says a continued focus on cost control contributed to strong net margin growth in the period.



Managing Director Graham Turner says operational highlights included a third consecutive year of profits from all ten countries in which flight centre operates.



Mr Turner also pointed to record pre tax earnings from Flight Centre’s three largest businesses, in Australia, the UK and the US, plus the emerging Singapore and Greater China operations.



The company is targeting a fiscal 2014 pre tax profit between $370 and $385 million, bolstered by growth of its sales network up to 10 per cent.



Flight Centre will pay shareholders a fully franked final dividend of 91 cents.