It's the second time in three months that FLT has cut profit guidance. In the announcement, they reference not only losing margin but losing market share in the retail space. The also refer to the decline of the mining industry having a big effect on corporate expenditure.
These all point to worrying signs for the future.
That being said, TTV is at an all-time high, they're just making less profit from it. The adage 'working harder, not smarter' comes to mind; an accurate representation of the toughness of the online competition.
Despite all this, there are still positives in the long term outlook. FTL has a large working cash base (upwards of $500m) and it's overseas businesses are growing year after year.
DYOR
It's the second time in three months that FLT has cut profit...
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