TUI raises FY earnings guidance

(Sharecast News) - Travel firm TUI hiked its full-year earnings outlook late on Tuesday, citing strong trading across its hotels and cruise divisions, early summer bookings, and a robust year-to-date performance. TUI said underlying earnings had risen €150m year-on-year to €199m at constant currency rates in the nine months ended 30 June, while revenues climbed €1.0bn to €14.7bn.

Looking ahead, TUI now expects full-year EBIT to grow between 9% and 11%, up from previous guidance of 7% to 10%, while revenue was now projected to grow at the lower end of its 5% to 10% forecast.

TUI said its Hotels & Resorts and Cruises units delivered record results, helping offset margin pressure in its Markets & Airlines segment, which continues to face stiff competition and cost inflation.

It also noted positive booking momentum in July, supporting its revised outlook but cautioned that macroeconomic and geopolitical uncertainties remained.

As of 0950 BST, TUI shares were up 0.73% at €7.95 each.







Reporting by Iain Gilbert at Sharecast.com