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Flight Centre Ltd (ASX:FLT) has upgraded its pre-tax profit guidance for the financial year to between $243 million and $247 million.
The result would be more than 20 per cent higher than the travel company’s previous record. For the first time, each of the ten countries the company works in has generated a profit.
Managing Director Graham Turner said the solid profit guidance was thanks to Australian’s viewing holidays as an annual ritual rather than discretionary spending, affordable international airfares and the strong Australian dollar.
In the six months to 31 December 2010, Flight Centre reported a net profit of $70.5 million.
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