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Financial Statement Analysis Flight Centre Travel Group Ltd

   

Added on  2020-02-24

10 Pages2229 Words72 Views
Financial Statement Analysis: Flight Centre Travel Group LtdNameInstitutionDate1
Financial Statement Analysis Flight Centre Travel Group Ltd_1
ContentsIntroduction.................................................................................................................................................3Industry Situation and Company Plans........................................................................................................4Financial Statement Analysis.......................................................................................................................5Statement of Financial Performance.......................................................................................................5Statement of Financial Position...............................................................................................................6Statement of cash flows..........................................................................................................................6Ratio Analysis..............................................................................................................................................7Conclusion and Recommendation...............................................................................................................8
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IntroductionFlight Centre Travel Group Limited is one of the largest travel groups in the world. Thegroup was started in Australia where its current headquarters are. The group home office is inBrisbane Australia (About Us, n.d). The company started as a small travel agency which hasgrown over the years into this well-recognized travel group. Currently, the company operates inover twenty-three countries worldwide with its main geographic activities being in six mainregions. These regions include Europe, South Africa, the United States, Asia, Middle East andNew Zealand. Even with such wide market coverage, the company's main activity has remainedthe provision of travel services with its main brands being leisure, corporate and wholesaletravels. Currently, the company is fairing on well financially with its stock price standing at $A 48.060as at 7th September 2017. On the same date, the dividend per share was $A 1.39 (SydneyMorning, n.d). These two values are relatively high compared to those of other players in thisindustry. This excellent performance has been achieved under the leadership of the group chiefexecutive officer, Mr. Graham Turner. The company’s annual performance can be seen in detailsin its annual reports which are published at the end of the group’s fiscal year.The group fiscal year ends on 30th June of every year. This means that the latest fiscalyear date was 30th June 2016. At the end of every fiscal year, the group normally publishes itsaudited financial statements for the public viewing. The current external auditors for the groupare Ernst and Young audit firm also based in Brisbane Australia. The work of the externalauditors is to give an independent opinion on the group's financial statement. According to theexternal auditor's opinion on the 30th June 2016 annual report, Flight Centre Travel Groupfinancial statements have been prepared and presented in accordance with the Corporation Act2001 (Annual Reports, 2016). The external auditors have also stated that the preparation andpresentation of the group’s financial statements have complied with the International FinancialReporting Standards (IFRS). Last but not least, the external auditors have also given reasonableassurance that the financial statements for the year ended 30th June 2016 present a true and fairview of the group operations and position.
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