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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 travellers 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.
By Betty Lam (Sales Trader, CMC Markets) 18/12/2014 |
Lead by the Fed-fervour offshore, Australians shares jumped on the Yellen cheer wagon. The material and energy stocks were back in vogue as both sectors gained over 3% in morning trade.
By Michael McCarthy (chief market strategist, CMC Markets) 18/12/2014 |
In spite of a frenzied pre-mortem, a benign statement from the US Federal Reserve‚Äôs Open Market Committee and steadying commodity markets drove investors back into share markets overnight. A calmer, stronger ruble helped offset European growth fears, highlighted in the overnight session by further declines in inflation.
By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 |
Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.
By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 |
Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.
BR Securities Australia Pty Ltd 2/12/2014 |
December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.
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