Flight Centre results ahead

Flight Centre, Australia's largest travel agency that has agreed to a A$1.6 billion ($1.86 billion) buyout from its founders, said its first-quarter results were ahead of the previous year.

It is too early to provide "meaningful" guidance for the full year, chief executive Graham Turner told the Brisbane-based company's annual meeting.

"Our results in the first quarter have improved in comparison to the corresponding period last year, but it must be noted that 2005's results can only be described as poor," Turner said.