Long haul and cruise boost TUI’s UK sales

Strong sales of long haul and cruise has helped TUI’s performance in the UK and Ireland, with volumes up 10% year on year.

According to the first quarter financial results reported by the travel company today, the launch of TUI Discovery in summer 2016 has helped boost UK sales.

The group overall managed to reduce its seasonal loss for the October to December period from €80.4 million to €66.7 million.

Overall turnover climbed by 8.5% to €3.49 billion, compared to €3.21 billion.

Taking into consideration the impact of foreign exchange translation, it rose by 2.3% to €3.29 billion.

CEO Fritz Joussen said: "The transformation of our business as an integrated tourism business based on own hotel and cruise brands, initiated in 2014, is really paying off.

"This has been demonstrated by the very good performance delivered in the completed financial year and has been confirmed in Q1 2016/17."

He referred to the sale of Travelopia, confirmed last night, saying it ‘marks the next strategic step to further sharpen TUI’s profile as a vertically integrated tourism business’.

"TUI is in an excellent state of health, and we are delivering on our promises. For the full year 2016/17, we reiterate our guidance of at least 10% growth in underlying EBITA."

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