Kuoni profits boost
Kuoni’s annual profits were boosted last year by the ditching of its loss-making European tour operating activities.
Its net result improved to CHF 69.2 million from a loss of CHF 14.4 million in 2012.
During 2013, Kuoni withdrew from loss-making activities in Italy, France and Belgium and it pulled out of the online platform Octopustravel.
New chief executive Peter Meier said: "2013 was a successful year for the Kuoni Group, with further positive organic turnover growth and a significant increase in operating earnings.
"The Group completed its transformation and the GTA (Gullivers Travel Associates) integration successfully, and achieved a clear positive net result.
"All business segments made a positive contribution to earnings, even before positive one-off effects.
"The growth-oriented activities of Group Travel, FIT and the visa services provider VFS Global generated particularly pleasing increases in EBIT."
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
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