Flight Centre has announced it expects to produce a profit of between $338 and $342 million before tax for the 2012/13 financial year. 

This is the third time the company has upped its predicted profit this year. It initially forecasted a profit before tax of between $305 and $315 million, which it later increased to $325-$340 million in May.

According to The Australian, if the company was to achieve a profit of $340 million, the mid-range figure of its latest profit prediction, it would represent a 17 percent profit increase for the year ending 30 June 2013.

It is also predicted the company’s Brisbane based head offices will produce an additional six million in profit.

Graham Turner, managing director, Flight Centre said the company has again proved profitable in the 10 countries it operates, which include the US, UK, New Zealand and South Africa. 

“This positive momentum continued through the key May-June period, which ensured that all our businesses finished the year in profit for the third consecutive year.

“Australia and the UK, Flight centre’s major profit drivers, easily surpassed their previous profit records, along with the emerging greater China and Singapore businesses,” he said. 

Despite its initial performance in the US, Flight Centre has managed to produce profits there, and it is in fact the company’s second-largest market now, reports The Australian.

Looking to the future, the company seeks to open four new American sites in 2013-14 and it will establish new sales teams and consultants to drive its leisure store network.

Flight Centre’s full-year results will be released on 27 August.