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Flight Centre shares soar on revised profit forecast

Flight Centre shares soar on revised profit forecast

Shares in travel agents Flight Centre (ASX:FLT) have jumped 8.4% today, since the company upgraded its profit forecast for FY10.

The company announced it was expecting a pre-tax profit of $160 million to $180 million, compared to its earlier projection of $160 million to $180 million.

The revised guidance would be a 60% to 80% growth on the $99.8 million recorded during FY09, Flight Centre said.

“Trading conditions have stabilized globally during the first half, although the rate of recovery varies from country to country,” managing director Graham Turner said.

FLT shares are currently trading at $19.19.

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