Economy

Flight Centre lifts profit guidance

SmartCompany /

Flight Centre is predicting another strong 12 months ahead and has lifted its profit guidance for the first half of 2008.

The travel agency has issued its fourth profit upgrade since October.

In a statement to shareholders, Flight Centre’s founder and MD, Graham Turner, said the company was on track to beat its own forecast of a record $85 million to $90 million pre-tax first-half profit.

Turner said Flight Centre expected the figure to be between $92 million and $93 million, or up 75% on the corresponding period.

He said the company had completed its $US135 million ($151 million) acquisition of the US travel retailer, Liberty Travel.

“We believe we have built a solid foundation for the full year, based on momentum gained during the first half and with small profit contributions expected from Liberty and our new joint venture with the Employment Office (a recruitment firm),” Turner said in a statement.

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