TUI expects ‘very successful’ financial year
TUI AG says it’s on track to achieve up to 12% growth in profit this year, based on its latest financial results.
The travel giant, which is in the process of merging with TUI Travel, reported an 89% rise in its underlying profits to €163 million in the third quarter.
Based on this growth, it said was ‘very optimistic’ and ‘expects a very successful financial year 2013/14’.
"Our oneTUI strategy programme is based on two pillars: cost discipline and efficiency as well as growth in hotels and resorts and the cruises sector," said Fritz Joussen, CEO of TUI AG.
"We have already started to move from consolidation to the growth phase, as is already clearly visible.
"We are delivering growth in all sectors and are increasing our profitability – through our own efforts."
He said profit growth to be at least at the upper end of the target range of 6-12%.
Group turnover in the third quarter was up 3% to €4.8 billion.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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