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Flight Centre set to be profitable again in FY2022?

  • ASX200 closed 0.54% lower at 7491.20 on Thursday.
  • Swoop rose 20% on FY21 results including completion of 3 acquisitions.
  • Flight Centre share price rallied on FY21 results & management optimism.

The Australian market’s green run came to an end today as the ASX closed 0.54% lower at 7491.20, weighed down by heavy losses for the gold miners. Some Australian blue chips took a hit today after releasing FY21 earnings results.

The tech sector finished the session more than 1% lower as Appen plummeted more than 21%, Link Administration fell more than 12% and Nuix closed the day down 4.5%.

Bitcoin has fallen 3.08% over the last 24-hours to trade at US$46,979.35 at 4:45pm AEST.

Telecommunications company Swoop soared more than 20% today after releasing FY21 results. For the year, Swoop reported pro forma revenue up 104% YoY to $30.9m, pro forma EBITDA up 165% YoY to $4.9m and the completion of three acquisitions in June and July.

Making headlines, shares in travel agent Flight Centre surged today after the company released FY21 results. As the pandemic placed almost all travel on hold over the last 12-months, Flight Centre reported a 74.2% decline in total transaction value to 3.95bn and an underlying loss after tax of $364m, but management optimism to achieve profitability for FY2022 has investors excited to back the company today.

And more than 50 robots are now employed as staff at Singapore’s Changi General Hospital to carry out administrative work around the hospital wards.

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