Leisure profits now exceeding pre-pandemic levels.
Flight Centre Travel Group (FCTG) has reported a 15% growth in Total Transaction Value (TTV) to $11.3 billion for the six months to 31 December, representing the company’s second strongest start to a year in its history.
Both corporate and leisure TTV performed strongly, increasing by 16.8% and 18% respectively, with both areas of the businesses outpacing the broader travel sector’s recovery.
The picture was also bright on the revenue front, with FCTG posting a 28% increase on the same period last year to $1.28 billion, while underlying EBITDA also improved by 98.9% to $189.14 million.
The success of the first half was underpinned by solid sales growth in a volatile sales environment and significant improvement in margins.
“At a time when discretionary budgets are typically tightening, travel remains an outlier and a priority spend for many,” FCTG MD Graham Turner said.
More details on the profit results in today’s issue of Travel Daily.