News: Flight Centre flies up to record H1 profit

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Flight Centre Travel Group Limited (ASX:FLT) has flown up to a record first half profit on the back of network expansion and global sales growth.  

 

The travel agent lifted its net profit by 20.7 per cent to almost $111 million in the last six months of 2013, in the same period revenue rose 15 per cent to more than $1 billion. 

 

Flight Centre has attributed the growth to network expansion which saw shop numbers increase 8.2 per cent as the company opened its 2,500th store in July 2013. 

 

Global sales growth has also aided Flight Centre in addition to enhanced in-store productivity and margin maintenance. 

 

Looking ahead the company has confirmed an annual profit before tax target of between $370 million and $385 million, which would represent between 8-12 per cent growth on last year’s underlying result. 

 

A fully franked interim dividend of 55 cents per share has been declared.