Australia's Flight Centre Travel slumps on half-year profit miss

Flight Centre Travel

28/02/2024 01:11

** Shares of Flight Centre Travel  FLT.AX  fall as much as
7.9% to A$20.020, marking their worst intraday drop since
mid-June 2022
    ** FLT at its lowest level since Jan. 10; among top 5 losers
in the ASX200 benchmark index  .AXJO 
    ** More than 1.5 mln shares change hands, vs the 30-day
average of 637,043 shares
    ** Travel agency posts 1H24 underlying pre-tax profit of
A$106.2 mln ($69.50 mln), up from A$16 mln a year ago, but 6%
below Visible Alpha consensus
    ** 1H24 total transaction value of A$11.33 bln misses
Macquarie estimate of A$12.78 bln
    ** Macquarie says "positive start to 2H24 with Jan results
in-line with expectations and Feb looking 'promising'"
    ** FLT up 6.7% this year as of last close


($1 = 1.5281 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))