Flight Centre Travel Group (ASX:FLT) described trading in the first quarter of fiscal 2025 as "patchy" compared with a "reasonably strong" year-earlier period on the back of airfare deflation and flat total transaction value (TTV), according to a Thursday filing with the Australian bourse.
TTV during the quarter was flat at AU$6 billion as year-on-year airfare deflation offset strong ticket volume growth. The company noted that the impact of airfare deflation and flat TTV growth "super over-ride" reported profit and profit margin for the period.
For fiscal 2025, the company is targeting underlying profit before tax of between AU$365 million and AU$405 million. The AU$385 million midpoint target represents a 20% increase year on year.
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