News: Flight Centre expands with Dublin buy

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Flight Centre Travel Group Limited (ASX:FLT) has expanded its presence in Europe after buying a travel management business in Ireland. The travel agent expects to this week finalise the purchase of Dublin-based Travelplan Corporate Limited. 

 

Flight Centre says the acquisition makes sound strategic sense and represents a cost effective, profitable and low risk entry to an important hub for corporate clients. 

 

While the acquisition price has not been disclosed Flight Centre says the deal will be done in line with its normal acquisition multiples and not materially affect the company’s results. 

 

Flight Centre has advised it now has 2,660 businesses across countries including Australia, the US, Canada, South Africa, the Middle East and Asia. 

 

Flight Centre Travel Group lifted its net profit to almost $111 million in the first half of the 2014 financial year.