Flight Centre shares soared yesterday, up 20% after the company announced it expected to post an annual net profit of $36-40 million and indicated that conditions in the challenged industry were stabilising.
In a results forecast released to the ASX, Flight Centre showed a strengthened balance sheet, and pre-tax profits well above analysts’ expectations.
There was good news too from the company’s US arm Liberty, which broke even in the fourth quarter.
The company said there were positive signs showing for the industry, with cheap airfares and holiday deals stimulating demand.
The full year accounts will be released on August 25.
ASX Code: FLT
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For more details on this news story:
- Sydney Morning Herald: “Profit results send downturn packing”
- ASX: “FLT 09 Result Update”
