Flight centre has upgraded its profit forecast for 2018

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Travel agent Flight Centre expects underlying profit over the first half to rise by between 6% and 19% driven by its international businesses.

Co-founder and managing director Graham Turner says the company is tracking to an underlying first half profit before tax of a $120 million to $135 million, 6% to 19% growth on the $113.2 million recorded during the first half of last year.

For the full year, he expects between $350 million and $380 million, or 6.2% to 15.6% growth.

“It is early days in the 2018 fiscal year, but we are making solid progress and are well placed to grow both top and bottom-line results,” he told the company’s AGM.

Flight Centre in August posted its annual results showing a 5.6% fall in net profit to $230.77 million.

Factors included the US and Australian elections and the UK’s Brexit referendum plus significant discounting of international air fares.

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