Flight Centre Travel Group updates FY2017 guidance after solid second half recovery

    Flight Centre Travel Group (FLT) updated (05-Jul-2017) its FY2017 guidance after a solid second half recovery. FLT expects to achieve an underlying profit before tax between AUD325-330 million (USD247-251 million) for the year ending 30-Jun-2017, after achieving record full year sales and solid second half profit growth. FY2017 total transaction value is expected to top AUD20 billion (USD15 billion), in line with the company’s expectations. FLT MD Graham Turner stated the company’s second half profit growth had been underpinned by strong results in North America, with the US business now on track for a record profit and the Canada business set to record significant year-on-year improvement.