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TUI Q3 profit from continuing operations increased

Staff Writer |
TUI reported that its third-quarter profit from continuing operations increased to 160.6 million euros from 75.9 million euros, prior year.

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Earnings per share was 0.23 euros compared to 0.10 euros. Underlying EBITA increased to 221.6 million euros from 160.9 million euros.

The group recorded 19% growth in like for like underlying EBITA (38% growth including Easter and foreign exchange translation).

Third-quarter turnover was up 12.6% to 4.77 billion euros from 4.24 billion euros, a year ago. For 2017, the group expects turnover growth in excess of previous guidance of around 3%.

On current trading, TUI stated that Summer 2017 remains in line with its expectations, with good demand for hotels, cruises and holidays.

The group reiterated guidance of at least 10% growth in underlying EBITA in 2016/17. TUI also reiterated its guidance of at least 10% underlying EBITA CAGR to 2018/19.

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