6th Feb 2014 08:01
CRAWLEY (Alliance News) - Tour operator TUI Travel PLC reported Thursday a narrower pre-tx loss in its first quarter, despite nearly flat revenues. Looking ahead, the company said it is confident of delivering full year underlying operating profit growth of between 7% to 10% at constant currency basis.
For the first quarter, pre-tax loss narrowed to 166 million pounds form last year's loss of 181 million pounds. Underlying operating loss narrowed to 108 million pounds from prior year's loss of 116 million pounds.
Revenues for the quarter were 2.73 billion pounds, slightly higher than prior year's 2.72 billion pounds.
The company noted that the demand for its unique holidays continues to grow.
The company further reported robust current trading with a strong performance in the key January booking period. The company noted that winter 2013/14 is closing out in line with expectations, and 85% of the programme sold, with higher average selling prices in most source markets.
In Summer 2014 trading, higher average selling prices and Mainstream volumes are up by 1% against tough comparatives.
Peter Long, Chief Executive, said, "We expect to deliver a H1 result broadly in line with last year, excluding the timing of Easter which falls in the second half of the year."
Copyright RTT News/dpa-AFX
Related Shares:
TUI.L