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Flight Centre posts better-than-expected $34m Q1 profit

Flight Centre posts better-than-expected $34m Q1 profit

Flight Centre Limited (ASX:FLT) announced that it had exceeded its expectations for Q1, taking in a pre-tax profit of $34 million, as consumer confidence finally began to improve.

The company, which saw its pre-tax profit tumble to $40.3 million from $2000.1 million last financial year, said it was happy with its progress so far.

But managing director Graham Turner declined to raise the company’s full-year guidance of $125 million to $135 million pre-tax profit.

“Given the volatility the industry has experienced in recent years, it would be premature to amend our outlook at this early stage,” he said.

In some countries, ticket prices were higher than the record quarter of Q1 FY09, but yields remain significantly down on last year, Turner added.

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