Here Comes ANZ Turbulence as Flight Centre Downgrades Guidance
Flight Centre's Australia and New Zealand, or ANZ, unit was on course to record its third consecutive period of material earnings decline in the second half of fiscal 2019. However, the severity has caught even us by surprise, resulting in the revised fiscal 2019 group underlying profit before tax guidance of AUD 335 million to AUD 360 million. This is 14% below the previous projection and implies a year-on-year PBT fall of 10% to 21% in the second half of fiscal 2019.We have accordingly cut o...
Flight Centre Travel Group is engaged in the travel retailing in both the leisure and corporate travel sectors, plus wholesaling.
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