We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

TUI Travel posts £317m loss but on track to meet full-year forecast


The world's largest tour group said it was on track to deliver a strong performance in its key summer trading period

Article comments

TUI Travel said on Tuesday the group made a operating loss of £317 million in the half year to end of March but said it was on track to meet full-year forecasts.

The world's biggest tour operator however said that it expected to deliver a strong performance in its key summer trading period.

The group, which owns Thomson and First Choice, recorded a rise in first half revenues of 5 percent to £5.44 billion. The group said overall trading for summer 2012 was good with booking volumes well ahead of last year.

Tour operators traditionally make a loss in the first half of the year, which does not include the key summer period.

"We have seen improved summer 2012 trading performance in all other mainstream markets except France which remains difficult," TUI Travel chief executive Peter Long said.

"Given the challenging economic environment, we remain cautious, however, overall trading performance continues to be in line with the board's expectations."

TUI Travel has benefited from difficulties experienced by main rival Thomas Cook , which issued a string of profit warnings last year before securing a three-year funding lifeline worth £1.4 billion last week.

Read also:

CFO interview with Andrew Bullen, FD of TUI Travel's Education division

Share:

Recommended Articles

Comments

TUI Travel posts £317m loss but on track to meet full-year forecast
Financial Planning

Could CFOs do more to boost shareholder value?

Could CFOs do more to boost shareholder value?

Working capital improvements start to pay off, but more could be donemore ..


Balfour rejects Carillion's "improved" £2bn merger bid

Balfour board says the offer does not address its two main concernsmore ..

Persimmon posts 57% rise in pretax profits

The FTSE100 housebuilder credits Help to Buy with encouraging growthmore ..

Inflation rate eases to 1.6% thanks to generous summer sales

Price drops in clothing and food biggest contributor to fall in inflationmore ..

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unansweredmore ..

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..

Advertisement

* *