Flight Centre Travel Group (ASX:FLT) highlighted financial achievements and strategic initiatives for FY24.
The company reported a record total transaction value of $23.74 billion, marking a $1.8 billion year-over-year increase, and a 131% increase in underlying profit before tax to $320 million.
Chairman Gary Smith emphasised the company's focus on cost discipline and strategic growth, stating, "We have made meaningful progress towards our 2% margin target, closing loss-making businesses, and restructuring others, which has helped us achieve a 72 basis point improvement in underlying profit margin."
The company returned $62 million in fully franked dividends during FY24, with an additional $66 million to shareholders via a 30 cents per share final dividend.
Capital management initiatives totalling nearly $450 million were also undertaken during the fiscal year.
Flight Centre reported a balance sheet strengthening with a net cash increase from $264 million in FY23 to $422 million in FY24.
Ongoing refinancing and improvements in debt structures supported this growth.
CEO Graham "Skroo" Turner highlighted efforts to enhance customer experience and operational efficiency through strategic investments in technology and sustainable practices, stating that the company's vision is to be the most flexible business travel platform that employees love to use.
Flight Centre Travel Group 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.
At the time of reporting, Flight Centre Travel's share price was $17.10.