TUI announces strong UK results
TUI’s earnings rose 12.5% last year, which was in line with its profit forecast.
At constant currency rates, core underlying profit (EBITA) came in at €1.030 billion in the 12 months to the end of September.
Without the earnings of its specialist holiday unit Travelopia, which is up for sale, the Group’s earnings were up 14.5% year on year.
CEO Fritz Joussen said: "TUI is in good shape, the course is set for growth.
"We are in a strong position in Europe, continue our expansion, in particular in Mexico and the Caribbean, and seek to benefit from the growth momentum in other parts of the world, where more people are discovering leisure travel.
"Thanks to the global strength of the TUI brand, it offers great potential internationally."
TUI’s northern region benefited from the strength of the UK and Ireland markets, where customer volumes were up 4%, it said.
Given its confidence in future growth, TUI said it was expecting profits to rise at least 10% a year for the next two years.
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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