Profit rise at Kuoni UK
Kuoni’s UK arm, which is being sold off by the Swiss-owned group, saw an increase in profits last year.
Earnings were up from CHF 8 million (£5.4m) in 2013 to CHF 9 million (£6) in 2014.
Gross profit was up from CHF 74.4 million (£50m) to CHF 77.9 million (£52.4m)
Releasing the results, group chief executive Peter Meier confirmed the company was pressing ahead with plans to sell off the UK tour operating division.
“The implementation of the new strategic direction announced in 2015 is going according to plan. Kuoni Group is now concentrating on its core business as a service provider to the global travel industry and governments, as well as on strategic initiatives designed to accelerate growth and increase profitability,” he said.
“Kuoni Group has therefore decided to sell its tour operating activities. Despite the challenging business environment, turnover in financial year 2014 was stable compared to prior year in organic terms.
“Two of our core activities – Global Travel Distribution (GTD), formerly FIT, and VFS Global – posted positive organic growth, especially in Asian source markets. Net result was similar to 2013.”
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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