TUI Group on track for growth as earnings rise

TUI Group, Europe’s largest travel company, posted core earnings growth of 12.5 per cent in its 2015/2016 financial year, in line with a forecast, and said it was extending by a year an existing profit target.

TUI said that at constant currency rates, core underlying profit (EBITA) came in at €1.030 billion in the 12 months ended September 30th, up 12.5 per cent compared to the year before, and in line with its forecast for growth of between 12 and 13 percent.

Given its confidence in future growth, TUI said it was extending to its 2017/18 financial year from 2017/18 currently, its guidance for profit to rise by at least 10 per cent a year.

Reuters