Flight Centre Travel Group achieved a total transaction value of $23.74 billion for FY24, surpassing the FY19 figure and registering a year-on-year increase of approximately $1.8 billion.
Flight Centre's underlying profit before tax surged 131% to $320 million, situated at the midpoint of the company's guidance.
Statutory profit before tax also saw a substantial increase, rising 212% to $220 million.
After tax, the company posted an underlying net profit of $230 million and a statutory net profit after tax of $139 million, representing 111% and 194% growth respectively over FY23.
Managing Director Graham Turner commented on the results, stating, "In an uncertain macro-economic and geopolitical climate, our business and the industry in general continued to grow – once again highlighting the sector's resilience and our strength as a diversified global travel company."
The travel agent's strong financial performance was highlighted by a record operating cash inflow of $421 million and significant capital management initiatives amounting to almost $450 million.
The initiatives include the reduction of bank debt, completion of a convertible notes buy-back, and increased dividend payments.
The company's board declared a fully franked 30 cents per share FY24 final dividend, amounting to $66 million, to be paid on Oct. 17.
Looking ahead, Flight Centre is poised to capitalise on growth opportunities in FY25, aiming to leverage its brand network and strong balance sheet.
Flight Centre Travel is a travel retailer and corporate travel manager. The company's principal activities include travel retailing in both the leisure and corporate travel sectors, plus in-destination travel experience businesses including tour operations, hotel management, destination management companies and wholesaling.