Australia's largest travel agent, Flight Centre, expects Qantas to wrap its fuel surcharges into the price of airline tickets, allowing travel agents to earn commissions on them, says managing director Graham Turner.

Otherwise Qantas risked losing customers as agents steered travellers in other directions. "Other airlines that do (wrap surcharges in with the ticket price) are starting to take market share," Mr Turner said.

He said the existing ticket structure was squeezing Flight Centre's profit margins. This had caused a fall in its leisure market earnings in the year to June 30, in contrast to the business travel sector where its profits had risen.

"Leisure everywhere is under a bit of pressure, as is corporate, but corporate generally is a little bit more profitable," he said. "The margin squeeze generally has a little less impact in the corporate area because of the way business travel is paid for."

Mr Turner said that in the past two years the company's corporate travel arm, FCM Travel Solutions, had expanded into 50 countries. FCM now accounted for about 40 per cent of revenue and within two years would account for more than 50 per cent of profit.

For the year, Flight Centre turned in profit growth of 4 per cent to $79.9 million on revenue that was 11.6 per cent higher at $1 billion. The profit result was, Mr Turner said, "pretty pathetic ... we're not happy with it".

However, parts of the business had performed well, he said, and the final dividend of 32 cents pushed the full-year payout up 3 per cent to 52 cents.

The company's 4300 travel agencies handled about $7.8 billion worth of transactions, an increase of 13 per cent. However, most of that amount is handed straight on to airlines and hotels and is not counted as revenue.

This year Flight Centre is aiming for double-digit growth in transactions as it focuses on cost-cutting and overall business improvement. Mr Turner said it wanted to bring profit growth closer to that total transaction growth figure. (Australian dollar is the currency used in this article)