Flight Centre posts “better than expected” results.
Flight Centre has delivered a 246% year-on-year increase in Total Transaction Value (TTV) for the four months to 31 October 2022, amounting to $6.8 billion.
The same period saw the group increase its revenue by 248% to $667 million, while the company also managed to turn around its underlying EBITDA result, shifting from a $137 million loss last year to a $61 million profit.
Managing Director Graham Turner said the company had enjoyed the fruits of returning demand across both its leisure and corporate businesses, while a boost should also be felt through an anticipated increase in revenue margins as the market continues to normalise.
More details in today’s issue of Travel Daily.