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28 Sep 2016

BY Gary Noakes

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TRFBLI

Tui Group 'optimistic' about this year

Tui Group has raised its operating profit guidance for 2015/16, saying it is “expecting another very successful year”, particularly in the UK.

Tui cruise

The group has raised its estimate of growth in EBITDA (earnings before interest, taxation and amortisation) from its previous 10% to between 12 and 13%.

In a trading statement, the Group said that: “RIU and the Cruises division, together with the very positive development of the tour operator business in the UK, have contributed to this excellent result”.

UK revenue and total customer numbers for summer 2016 were both up 5%, with the programme 98% sold. Average selling prices, were however described as “flat”.

The operator added that the coming winter season was looking “very positive”.

Fritz Joussen, Tui Group chief executive, said: “We are also currently seeing good growth in revenue of 11% in the upcoming winter season. Growth in bookings for our long-haul destinations is driving this positive development.”

The statement added that long-haul was proving especially popular in the UK: “Long-haul bookings in the UK are up 26 % - particularly to Mexico and the Dominican Republic.

“There has also been growth in bookings to Cuba and Sri Lanka, which will be new Tui Airlines’ 787 Dreamliner destinations for the winter season.”

UK winter revenue was up 29% and bookings up 22%, driven by long-haul expansion. Tui also said long-haul bookings in the German market were 10% higher than last year, with growth driven by the USA, Thailand and Mexico.

Tui Group publishes its full-year results for 2015/16 on December 8.

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