Flight Centre’s net profit more than tripled in the 12 months to June 30 due to a healthy increase in ticket sales and improved margins.

The company reported net profit after tax (NPAT) of $139.87 million in 2009/10, up 266.5% from its $38.2 million profit in the previous corresponding period.

“FLT’s results and achievements in several areas during 2009/10 have surpassed those of any other year,” Managing Director Graham Turner told the Australian Stock Exchange (ASX).

“Despite the fact that global economic conditions have not yet fully recovered, customer enquiry was at strong levels and more tickets were sold than ever before.”

Mr Turner also announced that Flight Centre’s earnings before interest and tax totaled $203.5 million, a 665% increase from $26.6 million reported last year.

''Despite some ongoing volatility,'' Flight Centre told the ASX that it expects further profit growth in the 2010/11 period.  

Flight Centre has announced an ambitious profit target of between $220 million and $240 million (before tax) for the fiscal 2011 period.

"While it is extremely difficult to forecast results at this early stage, we will be disappointed if we don’t improve on last year, given the momentum established in 2009/10 in most countries and most businesses," Mr Turner said.

"After successfully moving away from tiered supplier contracts in recent years, we have again sought fixed margins in our contracts globally for 2010/11 and have generally achieved our goal."

Flight Centre declared a final dividend of 44 cents.