23 August 2010

Who Says You Can't Make Money As A Brick and Mortar Agency?

Flight Centre the Brisbane based agency chain that tends to eschew the online world has reported record profits. A sustained improvement in trading conditions has seen the company record a net profit after tax of AU$139.8 million in the 12 months to June 30.

The result was an increase of 266.5% on the previous corresponding period, albeit off a lower base due to the downturn. Total transactional value fell 2% to AU$11bn, due to lower air yields. Net profit before tax rose 391.5% to AU$198m.

This contrasts pretty dramatically with the US and European traditional agency groups. However it should be noted that FC has operations in most English Speaking countries. So perhaps they do have some secret sauce. Of course that nice deal with Travelport that I wrote about last December might have a little to do with it.

Hey ho - I guess another busy day at the office!

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