TUI: FY accounts welcomed by market
(CercleFinance.com) - TUI shares are up around 1.
5% this Wednesday morning in London, with the stock in demand, after the group unveiled solid annual accounts as a whole, even though its bottom line was down 38% at 645 million euros.
On the contrary, Ebita increased by 12% to 1.12 billion euros, growth that was in line with the tourism giant's expectations, which was expecting at least 10% growth.
Business levels were also strong, with sales increasing by 11.7% relative to the 2016/2017 financial year to 19.2 billion euros.
TUI, which will offer its shareholders a dividend of 0.65 euro per share for the year ended, which is up 12% y-o-y, targets at least 10% growth in adjusted EBITDA for the new fiscal year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
5% this Wednesday morning in London, with the stock in demand, after the group unveiled solid annual accounts as a whole, even though its bottom line was down 38% at 645 million euros.
On the contrary, Ebita increased by 12% to 1.12 billion euros, growth that was in line with the tourism giant's expectations, which was expecting at least 10% growth.
Business levels were also strong, with sales increasing by 11.7% relative to the 2016/2017 financial year to 19.2 billion euros.
TUI, which will offer its shareholders a dividend of 0.65 euro per share for the year ended, which is up 12% y-o-y, targets at least 10% growth in adjusted EBITDA for the new fiscal year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.