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Business Description: Flight Centre Limited (FLT) is engaged in travel agency business. The Company provides a complete travel service for leisure and business travelers in Australia, New Zealand, the United States, Canada, the United Kingdom, Africa, Middle East, Asia, New Zealand, and Europe.
Strategy Analysis: The strategy has been to super size its international market share and become a leader in the corporate and retail travel market. This scale aims to enable the group to enhance its global purchasing power and so negotiate better deals with travel providers. A complementary online and offline product offering is being developed.
Flight Centre reported NPAT up 12.5% to $91.8m for the half-year ended 31 December 2012. Revenues from ordinary activities were $1.02bn, up 6.9% from the same period last year. Diluted EPS was 91.2 cents compared to 81.0 cents last year. The net operating cash outflow was $110.8m compared to an outflow of $20.2m in the pcp. The interim dividend declared was 46 cents compared with 41 cents last year. Looking ahead, after tracking at the top end of its guidance range at the end of the first half, the Company recorded strong trading results in January. As a result, the company expects to be in the order of 10% up on the pcp by the end of February 2013. With its key trading months to come, the Company will continue to target a PBT between $305m and $315m for the full year.
The Age 18/05/2013 |
As Australia's major retailers increase their online sales channels, pouring millions into their websites, they could face new competition from China's booming e-commerce industry.
The Age 18/05/2013 |
Most of those who take a political approach to the budget assume that if it's in deficit, the way you get it back to surplus is to cut government spending or, if you're a really bad person, increase taxes. They forget it's the budget itself that's supposed to do the heavy lifting.
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