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TUI Q1 loss narrows

Staff Writer |
TUI said that its group loss for the first quarter attributable to shareholders was 99.6 million euros, narrower than loss of 117.5 million euros in the year-ago period.

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Loss for the period from continuing operations narrowed to 58.7 million euros or 0.17 euro per share from 81.6 million euros or 0.19 euro per share last year.

EBITA from continuing operations was loss of 45.1 million euros, narrower than loss of 69.5 million euros in the prior-year period.

EBITDA from continuing operations was 55.4 million euros, up from 29.8 million euros in the year-ago quarter.

Turnover for the quarter rose 8.1 percent to 3.55 billion euros from 3.28 billion euros in the prior-year period. Turnover rose 9.1 percent at constant currency.

Looking ahead, the company said it is well positioned to deliver at least 10 percent growth in underlying EBITA in fiscal 2018.

The company said it is delivering its ambition - strong strategic positioning, strong earnings growth and strong cash generation, with underlying EBITA doubling between fiscal 2014 and fiscal 2020.


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