Leisure bookings gathering momentum ahead of peak trading season.
Flight Centre Travel Group has just released its financial results for the half-year ending 31 Dec 2024, recording a $117 million underlying profit before tax (UPBT), up 7% on the same period last year.
Total Transaction Value (TTV) for the period closed at $11.7 billion, up 3% or $365 million, with UPBT for Q2 seven times higher than Q1.
Describing the first three months of the financial year as “challenging”, the company blamed the result on “lower-than-normal total transaction value growth early in the half”, with much of the result coming from Q2.
The company’s corporate travel brands delivered a record $6 billion in TTV for the first half, with the division now 143% of its pre-pandemic size.
FCTG said momentum is now picking up ahead of the peak booking season, adding it expects its profit guidance for the full year to fall between its previously estimated window of $365m and $405m.
More details in today’s issue of Travel Daily.