IGNORE: Kuoni stresses independence as group returns to profit
Swiss-based Kuoni Group has stressed its strength as an independent operator while announcing a return to the black in 2006.
Kuoni in the UK saw profits (EBIT) rise by 7.5% to CHF 52.9 million while the group overall turned a 2005 loss of CHF 42 million into a net profit of CHF 116.7 million.
UK turnover fell by 9.4% from CHF 770 million to CHF 698 million due partly to the sale of for Us subsidiary Intrav. But turnover was also depressed by the impact of the thwarted terrorist attack at Heathrow last summer and a decline in demand for travel to the Middle East.
Kuoni UK bookings for 2007 were up by 15% as at March 10, while group bookings showed an overall rise of 16% in Swiss france terms, the company said.
Group CEO Armin Meier said: We are confident about 2007. The present economic buoyancy looks set to persist throughout the year, or should only weaken slightly at the most.
“The positive economic trends that are expected for the main markets will have a beneficial effect on the travel sector too; and the increased purchasing power in many countries will rasie demand for products in the higher price segment.”
The annual results statement went on to say that the group’s confidence for 2007 was also based on internal factors.
“The Kuoni business model, with it low vertical integration, keeps business risk to a minimum and offers maximum flexibility of response.
“And once again in 2006, Kuoni purused its strategy of selective acquisitions or premium and specialist providers with sizeable success.
“With turnover of more than CHF 4 billion, the Kuoni Group is big enough to remain and independent player in the tourist travel sector.”
More follows…
Phil Davies
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
Air Mauritius reduces frequencies to Europe and Asia for the holiday season