11th May 2016 06:53
LONDON (Alliance News) - TUI AG on Wednesday reported a wider loss in the first half of its financial year but said trading so far in the summer season is in line with expectations.
The travel company said its group loss in the six months ended March 31 widened to EUR394.9 million from EUR218.7 million, as revenue grew slightly to EUR6.79 billion from EUR6.61 billion.
TUI said results were hit by negative movements in foreign exchange rates.
TUI said summer 2016 trading remains in line with expectations with source market booked revenue up 2%, a strong performance by Western Mediterranean and long-haul hotels, and continued growth in cruises.
TUI expects to deliver at least 10% growth in underlying earnings before interest, tax and amortisation in the full year.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
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