Flight Centre Travel Group Ltd
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FLT Details
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Weak outlook: Flight Centre Travel Group Ltd (ASX: FLT) plunged over 8.9% on May 23, 2016 as the firm issued a weak trading update. FLT reported that its annual sales would exceed by $1.4billion during 2015/16 and its total transaction value for the year ended to June 30 2016 was expected to exceed $19 billion globally against $17.6 billion in FY15. On the other hand, the group’s underlying profit before tax (PBT) would be below its initial estimated target for 2015/16 impacted by factors including Australia's Federal election, Brexit referendum outcome in the UK, rising Airfare price wars and weak US leisure trading results. Overall, FLT expects its underlying PBT to be over 2%-5% down on the $366.3 million for the fiscal year of 2016.
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Recommendation: We give a “Hold” recommendation on the stock at the current price of $31.26
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Strategic Investments (Source: Company Reports)
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