Total revenues at Tui Travel increase by 9%
Total revenues across the Tui Travel group have increased by 9% compared to 2010, pushing up operating profits to €548 million. The group’s businesses in the Nordic countries, the UK & Ireland, Canada and Austria posted strong profits, but booking declines were witnessed in France and Germany. The operator said it has had a record breaking year in particular in the UK with underlying operating profit rising to €173 million. However, capacity has been cut in most markets due to “continuing issues in North Africa and a weaker consumer environment”.
“The UK, Nordic region, Belgium, the Netherlands, Canada and Austria delivered record results,” Peter Long, Tui Travel’s chief executive, said. “These achievements reflect the strength of our strategy to increase differentiated and exclusive product sales, increase controlled distribution with a focus on online to enhance our customer access and reduce distribution costs, and our delivery of the turnaround and cost efficiency programs.”
Tui has sold 19% of its program for 2012, with capacity being reduced again by 9%, while the average selling price is up 9%.
[pictured: Club Magic Life Waterworld Imperial, Belek, Turkey; courtesy Tui Group]