Travel services provider Flight Centre (FLT) said it is currently on track to exceed its previous profit target for the period of $85-$90 million before tax and now expected a half year result in the order of $92-$93 million, up about 75% on prior year.
FLT managing directors said the company was currently on track to exceed its previous profit target for the period of $85-$90 million before tax and now expected a half year result in the order of $92 – $93 million.
Details will be released on February 26, when the company will also provide additional commentary on its full year expectations.
"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," Turner said.
Liberty travel is a leisure and wholesale travel operations throughout the US, and was acquired for $135 million by Flight Centre late in 2007.
The new business has not contributed to FLT's record first half results, and is expected to be earnings per share accretive in FY2009 on a pro-forma basis.
The company's shares gained $1.46 to $24.67.
