Short squeeze, page-79

I usually avoid strong competitive industry such as travel sector, but I think FC is special. Other online agents only have websites, FC has website and local stores. It has nearly 0 debt, CEO is a founder and young and hold 15% of his own company. I couldn't find another travel company like this.

Below is the TTV from 2014 annual report, lc = local currency:

United Kingdom: TTV: $1.5b, up 11.3% in lc
India: TTV: $334.9m, up 6.1% in lc
Greater China: TTV: $196.3m, up 11.7% in lc
Dubai: TTV: $69.1m, up 4.8% in lc
Singapore: TTV: $116.1m, up 30.5% in lc
South Africa: TTV: $449.2m, up 13.7% in lc
Australia: TTV: $9.1b, up 7%
NZ: TTV: $871.4m, up 10.1% in lc
Canada: TTV: $1.1b, up 8.0% in lc
USA: TTV: $2.1b, up 8.4% in lc

Australia is $9.1b, all the other countries is $6.74b. With lower AUD and stronger overseas business, in 2016, overseas business might be more than Australian business.

Under current economic condition, a 4% fall from record PBT shouldn't be a surprise.
Local business lose some market share to online business and overseas competitors is very common. Actually online business is expanding in every industry today. I will buy more around $30.