28th Sep 2016 06:23
LONDON (Alliance News) - Travel operator TUI Group on Wednesday said the summer 2016 holiday season is closing as expected, while winter 2016/17 also is trading in line with expectations, ahead of the close of its financial year.
TUI said the summer 2016 season is 97% sold to date, with revenue and bookings up 1% year-on-year, driven by a strong performance in the UK business, where revenue and bookings are up 5%.
Trading for the winter 2016/17 season is in line with the company's expectations as well, TUI said, with revenue up 11% on this time last year and bookings up 5%. TUI said this was driven in particular by UK long-haul growth.
TUI added that it is confident of delivering between 12% and 13% growth in underlying earnings before interest, tax and amortisation in its full year which ends on Friday.
"This demonstrates the strength of our integrated business model and the success of our content centric strategy, as well as the continued delivery of our merger synergies," Chief Executive Friedrich Joussen said in a statement.
TUI will release its full-year results on December 8.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
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