Tui Travel profits in a surprise rebound

first_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Share KCS-content whatsapp Show Comments ▼center_img Tui Travel profits in a surprise rebound Thursday 2 December 2010 7:10 pm whatsapp More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com LEISURE firm Tui Travel released stronger-than-expected profits yesterday, despite a tough year for UK travel.The travel group said that its adjusted pre-tax profits rose four per cent in the last fiscal year, ended 30 September, while its underlying full-year operating profit increased by 11 per cent. The results are from a rough year for Tui Travel. The company suffered as a result of April’s Icelandic volcano disruption which cost the group £104m. Pre-tax loss narrowed from £94m to £36m. Adjusted for exceptionals, including the impact of the volcanic eruption, underlying pre-tax profit increased four per cent from £324m to £337m. Overall revenue declined two per cent to £13.5m. But basic earnings per share did increase by 10 per cent, to 22p. Net debt now stands at £249m, down from £338m last year.Chief executive Peter Long said he was pleased with the results: “In a difficult trading environment we have continued to achieve incremental synergy benefits and made good progress in delivering the turnaround opportunity during the year.”Tui is expected to have a better year this year than last year. While the UK market is maturing, Tui expects to grow in Germany as its economy experiences a manufacturing boom.Tui is also expected to experience low cost inflation next year, said analysts at Numis. Costs are expected to rise just two per cent, compared with four per cent at rival Thomas Cook. Tui is also reaping cost savings after its merger with First Choice Holidays in 2007. last_img

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