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Tui Group recorded 5.4% increase in revenues

Staff writer |
Tui Group has delivered a 15% improvement in its underlying operating results in the first quarter. The company said the improvement was driven by reducing the underlying operating loss by €33 million to €108 million euros.

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It excludes the €16 million euros profit made on the sale of Riu Waikiki within Tui Hotels & Resorts.

We are delighted to announce our first set of results as Tui Group, having delivered 15% improvement.
Friedrich Joussen and Peter Long, CEOs
The group recorded a 5.4% increase in revenues for the period, with €3.54 billion euros generated. It added that based on the current situation, it was confident of delivering full-year operating profit growth of 10% to 15%.

In the UK, Tui's present winter programme is now 77% sold, with average selling price up by 3%, total sales up by 6% and customer numbers up by 3%.

The UK also has the highest proportion of summer 2015 holidays sold, at 38%. Bookings are up 4% and average selling prices up 1%. However, overall mainstream booking are down 1%.

The company is also 93% hedged on its fuel for the current season and 87% hedged for the forthcoming summer.

Chief executives of Tui Group, Friedrich Joussen and Peter Long, said: "We are delighted to announce our first set of results as Tui Group, having delivered 15% improvement in the underlying operating result. This reflects a significant increase in profitability in Hotels & Resorts and Cruises. The travel result is in line with our expectations."

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