The Kuoni Group saw revenues fall 2.8% to £3.7 billion during 2014, which it attributed to a “challenging business environment”. The drop in operating profit left it making £57.4 million, giving it a margin of 1.6%.
The group’s chief executive insisted that he remained confident it would complete the sale of its tour operating division this year, with a number of suitors reportedly already expressing an interest.
“Obviously, as a player in the market, we always have a list of people who are potentially interested in those businesses. But I think we didn’t want to limit ourselves to our knowledge, or the knowledge of some of our advisors,” said Peter Meier.
Buyers close in on Kuoni as profits fall
Luxury
TTG Staff
18 March 2015
Speculation is mounting as to the likely buyers of Kuoni’s tour operating divisions, as the group posted results this week revealing a 24% fall in operating profit.
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