News: Flight Centre profit guidance soars

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Flight Centre Limited (ASX:FLT) has upgraded its full year profit guidance after a strong start to the second half.

 

The travel company has raised its underlying profit before tax expectation from the initial $305 million to $315 million, up to between $325 million and $340 million.

 

If it’s achieved, the upgraded guidance will represent a 12 to 17 per cent lift on its record $290 million profit before tax posted during the 2011/12 financial year.

 

Managing Director Graham Turner says the company began the second half strongly , after achieving 8 per cent first half profit before tax growth.

 

Mr Turner says Australia and the UK – it’s biggest profit generators – are on track for record full year EBIT contributions. 

 

Flight Centre generated a net profit of $91.8 million for the first half of the current financial year.