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Tui sees solid summer trading

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But late timing of Easter impacts results
Tui Group’s summer trading is on track with its expectations of customer demand for Spain, Greece and the Caribbean, which have helped offset a drop in sales for Turkey and North Africa.
The travel giant reported an 8% rise in revenue for summer 2017 compared to the previous year, while customer numbers were up 4%. But the operator reported a second-quarter loss of €177 million, impacted by a late Easter.
Adjusted for the late timing of Easter this year, the loss for the first six months of the financial year improved 6.3% to €193.3 million.
Tui also confirmed a target to increase underlying earnings by at least 10% this year.
In its source markets, Tui’s Northern Region, which includes the Nordic countries, the UK and Ireland, Canada and Russia, saw overall growth of 5% in customer numbers.
“Our transformation to an integrated tourism business is on track. We are delivering strong growth in our hotel and cruise brands,” declared Fritz Joussen, chief executive.
“These two segments contribute half of our operating result on a full-year basis. Tui Group is changing quickly – our guidance remains unchanged despite a challenging environment. We reiterate our guidance to deliver at least 10% growth in underlying EBITA this year.”
TTG Digital

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