TUI group sees profits hold strong despite tough conditions
HURRICANES in the Caribbean and a weak pound have failed to dent TUI's financial targets.
The FTSE 100 tour operator said more customers had booked for Greece, Bulgaria, Croatia, Italy, Cape Verde and long-haul destinations.
UK volumes matched last year’s strong performance despite the drop in sterling forcing up accommodation costs.
It reiterated its forecast for growing annual underlying pretax earnings by at least 10 per cent.
CEO Friedrich Joussen pointed to good growth in winter bookings for Cyprus, North Africa and Thailand, offsetting weaker demand for some parts of the Caribbean and Florida.
Overall trading for future seasons remains in line with our expectations
“At this early stage, overall trading for future seasons remains in line with our expectations,” Mr Joussen said.
“Across our markets, customer volumes have grown versus last year for most destinations, especially Greece, Bulgaria, Croatia, Italy, Cape Verde and long haul,” a spokesman for Tui said.
“We are also pleased with the increase in bookings made direct and online (up 4 per cent and 7 per cent respectively), and with a further increase in sales of our own hotel and cruise brands.”
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