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TUI Travel says FY profit rises 13 pct
December 10, 2013 / 7:20 AM / in 4 years

TUI Travel says FY profit rises 13 pct

LONDON, Dec 10 (Reuters) - TUI Travel, the world’s biggest tour operator, said full-year profit rose 13 percent, beating the company’s upgraded forecast, helped by the sale of more higher margin holidays in its UK and German markets.

The British group, which owns the Thomson and First Choice holiday brands, posted underlying operating profit of 555 million pounds ($909.45 million) for the year to the end of September on a constant currency basis on revenue which rose 4 percent.

“We remain confident of delivering this year, in line with our target to deliver 7 percent to 10 percent underlying operating profit growth at constant currency over our five-year growth roadmap,” the company said in a statement on Tuesday.

TUI lifted its growth forecast for underlying operating profit to 11 percent in September from an estimate of 10 percent given seven weeks earlier, citing strong demand for winter holidays.

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