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Interim Results

TUI AG posts narrower H1 loss

15 May 2017 07:21

TUI AG has turned in a narrower H1 loss of €308.6m, from a year-ago restated loss of €394.9m. The group's turnover hit €6.38bn, up from a restated €6.18bn.

"The Group has delivered a good H1 overall and Summer 2017 continues to trade in line with our expectations," said TUI in a statement.

It thus reiterated its guidance of at least 10% growth in underlying EBITA in 2016/17 (at constant foreign exchange rates applied in the current and prior period, and based on the current group structure).

"Whilst the turbulent macroeconomic and geopolitical backdrop is evident in certain destinations and markets, our operational experience, integrated model and balanced portfolio of markets and destinations mean that we are well placed to deal with these challenges and continue to deliver sustainable growth into the longer term," the company said.

Story provided by StockMarketWire.com

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