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
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
Strike action set to cause travel chaos at Brussels airports
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent