Flight Centre booked a pre-tax profit of $A151.6 million ($US142.9 million) for the prior year, excluding an abnormal gain on the sale of the company's Brisbane head office property in 2006/07.

Flight Centre chief financial officer Shannon O'Brien said further growth was expected in 2008/09.

"With the opportunities we have for further improvement overseas, we would be disappointed if we did not achieve 10-15 per cent pre-tax profit growth during 2008/09," he said.

Mr O'Brien said Flight Centre was yet to encounter the challenges that retailers in some sectors had reportedly experienced.

Demand in Australia had been healthy in the second half of 2007/08.

Flight Centre said the travel industry was benefiting from near-full employment, the booming resources sector, the strong Australian dollar boosting outbound tourism and heavily discounted airfares.

Flight Centre was experiencing healthy demand in its overseas businesses, which were likely to generate about half of overall transaction value from next year.

The company said its fiscal 2008 results corresponded with a year of active geographic expansion and acquisition.

Flight Centre managing director Graham Turner said investment would continue in the company's core travel, niche travel, travel-related and non-travel businesses in the year ahead.

"During 2008/09, the company expects to invest up to $A60 million ($US56.56 million) in the expansion of its travel-related businesses and up to $A5 million ($US4.71 million) in its non-travel businesses," he said.

Mr Turner said investments in non-travel businesses represented solid future growth opportunities.

"Although relatively insignificant currently, they are important elements in our planned strategy to transplant our (business) model's core strengths to complementary businesses, without taking our focus away from future travel-related opportunities," he said.

In February this year, Flight Centre forecast a pre-tax profit for the 2008 full year at a "minimum" $A200 million ($US188.52 million).

Flight Centre shares were $A2.07 ($US1.95), or 12.60 per cent, higher at $A18.50 ($US17.44) at 1042 AEST today.

(AAP)

Report Coverage

- Critical appraisal of the company's positioning using SWOT analysis.

- Company information, including business descriptions, company history, product lines, key competitors and key employee biographies.

- Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.

- Key mergers and acquisitions, partnerships, private equity investments and IPOs.

Reasons to buy

- Support business/sales activities by understanding customers' businesses better.

- Identify prospective partners and suppliers.

- Capitalize on your competitors weaknesses and target the market opportunities available to them.

Key Topics Covered:

- Company Snapshot

- Business Description

- History

- SWOT Analysis

- Competitors

- Company Statement

- Locations And Subsidiaries

Companies Mentioned:

-A.P. Moller - Maersk A/S

-Frontline Ltd.

-Overseas Shipholding Group, Inc.

For more information visit http://www.researchandmarkets.com/research/4a6897/aktieselskabet_dam

Source: Global Markets Direct

SOURCE: Research and Markets Ltd.

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