Kuoni profit rises almost 50%
Kuoni’s acquisition last spring of destination management services provider Gullivers Travel Associates (GTA) helped boost the company’s annual turnover by 28% to CHF5111m (£3533m) in 2011.
Net profit also rose sharply from CHF23.2m (£16m) in 2010 to 33.3m (£23m) last year.
"These positive results are attributable to the Kuoni Group’s new global focus and stronger business activities in the growth markets of Asia," said the company. "The continued growth of the destinations division and acquisition of Gullivers in May 2011 contributed greatly to this."
Political upheaval in the Middle East, the European debt crisis, the natural and nuclear disasters in Japan, prevented even stronger growth, it said. The strength of the Swiss franc against all the major currencies had a negative impact.
CEO of Kuoni Group Peter Rothwell said: "Kuoni today is a larger and better positioned company than it was a year ago. The acquisition of GTA, which does a large proportion of its business in the growth markets of Asia, puts Kuoni in a better strategic position.
"We have also managed to improve our financial results and achieve organic growth."
Rothwell said Kuoni would continue to pursue its "asset-light" strategy minimising ownership of aircraft or hotels.
The group will strengthen its board of directors at the AGM next month with the appointment of two new members: Korean Jay Lee, previously in charge of eBay’s Asia/Pacific region portfolio; and Dutchman Adriaan Nuhn, who sits on the boards of several international consumer goods companies.
By Linsey McNeill
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 
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Hands In, UATP join forces for airline multi-card payments
Suspension of all regional trains in Catalonia following two new rail accidents in Spain