Flight Centre Travel Group Q1 profit up slightly, shares drop 17% due to muted growth factors and lower airfare prices.
Flight Centre Travel Group reported a slight increase in first-quarter profit, leading to a 17% drop in shares, reaching a 10-month low. Analysts expressed disappointment over the company's profit outlook, which is expected to be heavily weighted toward the second half of fiscal 2025. Factors such as lower airfare prices and muted global corporate activity have hindered growth. Despite this, early signs of improvement for October are noted.
October 18, 2024
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