Mr Morahan said the agency group was “well placed” with a “diverse stable brand”.

On track to achieve 2012 targets of $315 million in profit before tax has fuelled confidence in Flight Centre (FLT) chairman Peter Morahan, who claims the company is “well placed to weather any storms”.

At the group’s 2012 Annual General Meeting this week, the company announced it was likely to meet its profit growth targets for financial year 2012/13, with first quarter and October projections in line with targets.

Although still early days, Mr Morahan said while some market conditions remained “volatile”, the agency group was “well placed” with a “diverse stable brand” that can “shield it from the impacts of a downturn in any one travel sector”.

“FLT is one of the few travel companies that has large leisure and corporate travel businesses, as well as a significant presence in the Australian domestic and outbound sectors,” he explained.

Flight Centre also had the “rarity” of a strong balance sheet, which will allow the company to capitalise on opportunities and a plan designed to “enhance operations and grow the business”.

“Looking ahead 2012/13, FLT will target further sales network, TTV and profit growth,” he said.

Commenting on the company’s growth, Mr Morahan explained that company’s net profit after tax had jumped to $200 million for the first time last year, five years after the company have achieved its first $100 million and ten year after the first $50 million milestone.