FY24 results eclipse pre-pandemic levels and 2019 record numbers.
Flight Centre Travel Group has reported full-year Total Transaction Value (TTV) of $23.74 billion, setting a new benchmark above its previous record year just prior to the pandemic in 2019.
Emblematic of the boom in leisure travel, the company’s profits in the holiday travel segment more than doubled to sit at its highest point since FY2014.
Underlying Profit Before Tax overall soared to $320 million, up 131% from $139 million one year earlier to sit in the mid-point of the company’s profit guidance issued last month.
The Underlying After-Tax result of $230 million marked a 111% year-on-year growth, with corporate travel also setting record numbers.
The company said the result reflected strong productivity increases considering it was achieved with just 63% of its 2019 workforce, while airfare deflation was also cited as a factor with the second half of the FY seeing average economy fares priced 13% below that of the prior year.
Shareholders will receive a fully franked dividend of 30 cents per share, amounting to a return of $66 million.
More details in today’s issue of Travel Daily.