Kuoni cuts winter losses
Kuoni Group cut its first-half losses slightly from £21.4m (CHF32.5m) last year to £19.3m (CHF 29.4m) this year after boosting turnover 26.7% to £1.74bn (CHF 2 641m).
The Group’s star performer was the Global Travel Services division, which doubled its turnover to £780m due to the acquisition of Gullivers Travel Associates in May last year and to a 15% rise in organic growth, especially in Asian markets.
VFS Global, specialising in external consular visa services, increased its turnover by 10% to £65m, and the Group said it continued to be an important profit driver. Outbound Nordic markets also increased turnover by 1.9%, but Kuoni admitted that trading in the other Europe markets remained difficult due to the European debt crisis.
Kuoni CEO Peter Rothwell said: "Kuoni’s global strategy with its ‘asset-light’ approach, and our strong position in Asia, have been vindicated, especially in the light of the continuing European debt crisis.
"We have been able to achieve organic growth and improve our performance in the first half of 2012, even in this difficult economic environment. In particular, the growth of the Global Travel Services Division and VFS Global is very pleasing."
The group’s operating earnings for the full year are expected to top £59m.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026