Summer 2017 revenue and numbers up for TUI
TUI Group says its summer trading is ahead of last year, with revenue up 8% and sales up 4%.
TUI said in a trading update: "Lower demand for Turkey and Egypt is offset by greater demand for Greece, Spain, Cape Verde, Cyprus and long-haul destinations such as the Caribbean."
Despite announcing a wider second-quarter loss, largely affected by the late Easter holidays, TUI said it is on track to hit its full-year targets.
Second-quarter underlying EBITA loss was €177.7 million at constant currencies, compared to a loss of €126 million in the same period in 2016.
In the Northern Region, which includes the UK and Ireland, TUI achieved an overall 5% growth in customer volumes in the second quarter.
Adjusted figure show the loss for the first six months of the financial year improved 6.3% to €193.3 million.
TUI Group CEO Fritz Joussen said: "Our transformation to an integrated tourism business is on track.
"We are delivering strong growth in our hotel and cruise brands. These two segments contribute half of our operating result on a full year basis.
"The TUI Group is changing quickly – our guidance remains unchanged despite a challenging environment. We reiterate our guidance to deliver at least 10% growth in underlying EBITA this year."
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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