Flight Centre Travel Group Limited (FLT)



Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today Ľ it's FREE! Already a member? Login now!


General Information
Company Name: Flight Centre Travel Group Limited
Stock Code: FLT
Website: www.flightcentre.com.au
GICS Sub-Industry: Hotels, Resorts & Cruise Lines
Market Cap ($M): 4,624
Equiv. Shares (M): 101

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 45.970 $ 46.350 $ 46.800 $ 45.970 $ 46.370 443,790 $ -0.400  -0.863 %

Current Broker Consensus Recommendation more
Recommendation: Hold (2.8333)
Recommendation Date: 19th Aug 2014
Brokers Surveyed: 6

Company Overview

Business Description:
Flight Centre Travel Group Limited (FLT, formerly Flight Centre Limited) 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. FLT consists of more than 30 brands with four categories of brands which are Leisure, Corporate, Wholesale and other. The flagship brand is Flight Centre leisure brand.

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.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2015  F 290.1 288.9 9.9 15.9 168.0 3.7 100.0
2014  F 263.9 262.8 7.6 17.5 150.0 3.3 100.0
2013  A 246.1 244.2 22.9 12.1 137.0 4.7 100.0
Source: Morningstar analyst estimates.

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F
Flight Centre Travel Group (FLT) $4,664 M 0.2296 0.0805 0.1090 18.9885 17.5744 15.8476 2.95 3.31 3.60

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
FLT 0.94 17.4 4.50 1.84 2.38
Market 0.99 16.4 1.31 2.17 1.69
Sector 1.32 18.5 2.84 1.95 2.39

Directors
Name Position Start Date
Mr Graham Francis Turner Managing Director 17 November 1987
Mr Peter Morahan Non-Executive Chairman 07 November 2007
Mr Robert Baker Non-Executive Director 20 September 2013
Mr Gary Warwick Smith Non-Executive Director 02 November 2007
Mr John Eales Non-Executive Director 13 September 2012

Management
Name Position
A. Flannery Chief Financial Officer
M. Waters-Ryan Chief Operating Officer
Stephen Kennedy Company Secretary
D C Smith Company Secretary

Substantial Shareholders
Holding Name
12,989,750 (12.90%) James Management Services Pty Ltd
14,817,910 (14.80%) Gehar Pty Ltd
15,200,000 (15.10%) Gainsdale Pty Ltd

Calendar of Events
Date Event
02 March 2015 Report (Interim)
25 February 2015 Report (Interim)
24 February 2015 Report (Interim)
26 September 2014 Report (Annual)
26 August 2014 Report (Prelim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

Advertisement

Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Investing in Shares via SMSFs

An educational booklet that outlines how to get the most from your share investments for retirement thorugh your self managed super fund.

More details...

News

Billionaires bankroll Ten's new direction Media Network sees digital future

The Age 19/12/2013 | Ten Network's programming ambitions will be funded by a $200 million loan guaranteed by three of its billionaire owners, as the free-to-air broadcaster declared digital was the future and pointed to early signs that its switch to an older market demographic was working.

Elders alleges $24m fraud in live cattle division

The Age 19/12/2013 | Troubled rural services group Elders is threatening to call in the police over an alleged $24 million fraud by a "handful of individuals" in its live cattle exports division.

Bega Cheese holds back in three-way bidding war for WCB

The Age 19/12/2013 | Bega Cheese began the battle for Warrnambool Cheese & Butter but three months on it appears to be the first casualty of the bidding war.

Aussie hampers transition

The Age 19/12/2013 | A persistently high Australian dollar is thwarting the Reserve Bank's efforts to ease the transition of the economy away from mining.

RBA keeps its focus on lower dollar

The Age 19/12/2013 | The Reserve Bank is keeping the door open to further interest rate cuts, but believes the "significant amount" of monetary policy easing over the past two years is already stimulating growth.

Pact's struggles weigh down Orora

The Age 19/12/2013 | The underwhelming sharemarket debut of packaging company Pact Group Holdings has weighed on the demerger of Amcor and its $2 billion Australasian packaging and distribution business Orora.

More...


Sponsored Links