• 1H TTV growth across key financial metrics including revenue and underlying profit
• Corporate division delivering record TTV and starting to realise productivity gains
• Leisure division more productive, efficient and profitable than pre-COVID

The announcement highlights Flight Centre Travel Group's strong first half performance, with growth across key financial metrics including total transaction value (TTV), revenue and underlying profit. The company achieved a TTV of $11.7 billion, representing around $365 million in year-over-year growth, and a record corporate TTV that has taken the overall recovery above 140% of pre-COVID levels. The group delivered an underlying profit before tax of $117 million, up 7% compared to the prior corresponding period. This was achieved despite some headwinds, including reduced override revenue in the first quarter and a downturn in Asia. The announcement outlines a 'tale of two quarters', with a marginal improvement in the first quarter followed by a more rapid TTV growth and profit growth outpacing TTV growth in both the leisure and corporate divisions in the second quarter. The group's balance sheet remains strong, with a focus on maintaining a robust cash and investment position. The announcement reaffirms the company's FY25 profit guidance, targeting an underlying profit before tax between $365 million and $405 million, representing a 14% to 26.5% increase on the FY24 result. The group expects earnings to be heavily weighted towards the second half, in line with normal seasonality, as peak booking months typically fall between January and June in both the corporate and leisure businesses. The announcement highlights positive early trends in January 2025, including record profit for the Scott Dunn brand, record Australian leisure TTV, and strong SME growth in the large US market. The company remains well-positioned to capitalize on the expected further growth in the travel market, with a 6.7% increase in global passengers forecast for the 2025 calendar year.

The company is targeting an underlying profit before tax between $365 million and $405 million for the full year FY25, representing a 14% to 26.5% increase on the FY24 result of $320 million.

The company has the building blocks in place for a stronger second half, with good momentum, improving margin profile, and balance sheet strength. Key strategies include maintaining cost discipline, embedding the Corporate Productive Operations initiative, and enhancing the leisure business's productivity and efficiency. The Global Business Services division is also expected to deliver savings, productivity benefits and economies of scale across all markets.