Flight Centre – FY19 Guidance

At Flight Centre’s AGM yesterday, management provided a weaker than expected trading update.

The update suggested trading conditions were softer than expected driven by weak Australian leisure business.

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FY19 underlying profit before tax was guided to be within $390-420m which equates to around 5%.

Whilst the update was below consensus, we believe the stock is close to support and will find buying interest near the current $48 – $49 level.

Flight Centre

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