Australian Stocks – Flight Centre (FLT) 25 May 2010
Flight Centre (FLT) is Australia’s largest travel agent, operating retail shops with core operations in Australia, the core market. FLT’s market capitalisation is currently $1.6 billion.
FLT has upgraded FY10 operating earnings guidance to $190 million – $200 million, from the previously forecast $160 million – $180 million.
FLT based its forecast on strong sales volumes and improved trading conditions in the group’s overseas businesses.
FLT also advised that recent world events, including European air space closure and exchange rate fluctuations, will not have a material impact on results.
FLT shares jumped 2.9% today, bucking the market’s overall downward trend. Australian stock price for FLT last closed at $16.80 a stock.