Ann: FLT FY19 Half Year Results Release, page-40

Thanks for the post. It's interesting how the price tracks the earning overall but there are many gaps along the way. I think this represents the buying and selling opportunities. In my limited experience these gaps seem to occur because brokers straight line the great moments like they're never going to change and, conversely, straight line the bad moments like they're never going to get better and amend their forecasts accordingly. Flight Centre's a great example of a business in a tough fight. It usually wins but not without losing a few rounds along the way.