Flight Centre shares are taking a beating

Ludovic Marin/AFP/Getty Images

Shares in Flight Centre fell sharply after the travel agent released a cautious outlook for full year results.

A short time ago, the shares were down 9.7% to $46.20.

In an update to the AGM, the company says it expects underlying profit before tax of between $140 million and $150 million for the six months to December, up to 7% growth on the $139.7 million first half result.

Over the full year, the company expects underlying profit before tax between $390 million and $420 million, what it calls a “modest increase” on the record 2018 result.

The top of the range would represent about 9% growth.

“It is, of course, very difficult to forecast future results in our style of business and our broad guidance range reflects the uncertainty surrounding the timing of the Australian leisure business’s recovery,” the company says.

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