TUI: financial year is closing out as expected
(CercleFinance.com) - TUI said its financial year 2017/2018 is closing out "in line with its expectations," prompting the travel and tour operator to reiterate its guidance of at least 10% growth in underlying EBITA.
Whilst at an early stage, trading for future seasons is also in line with expectations overall, Europe's largest tour operator said in a trading update this morning.
"Summer trading was aligned with expectations, while winter had a soft start," tempered analysts at UBS.
Total customer volumes in sales and marketing rose 4% during Summer 2018, in particular benefiting from increased capacity to Turkey, Greece and North Africa, the company said.
However, with the weakening of the Turkish Lira, the group now expects a hit of approximately 70 million euros due to foreign exchange translation on its full-year 2018 underlying EBITA result.
TUI Travel shares are currently trading up 1.3% at 1,456.5 pence, slightly outperforming Britain's bluechip index, which is down 0.2%.
Still, shares in TUI AG have lost 5% of their value since the beginning of the year.
TUI is due to report its full-year results for the twelve months ending 30 September, on 13 December.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Whilst at an early stage, trading for future seasons is also in line with expectations overall, Europe's largest tour operator said in a trading update this morning.
"Summer trading was aligned with expectations, while winter had a soft start," tempered analysts at UBS.
Total customer volumes in sales and marketing rose 4% during Summer 2018, in particular benefiting from increased capacity to Turkey, Greece and North Africa, the company said.
However, with the weakening of the Turkish Lira, the group now expects a hit of approximately 70 million euros due to foreign exchange translation on its full-year 2018 underlying EBITA result.
TUI Travel shares are currently trading up 1.3% at 1,456.5 pence, slightly outperforming Britain's bluechip index, which is down 0.2%.
Still, shares in TUI AG have lost 5% of their value since the beginning of the year.
TUI is due to report its full-year results for the twelve months ending 30 September, on 13 December.
Copyright (c) 2018 CercleFinance.com. All rights reserved.