TUI Travel releases pre-close trading update

TUI Travel released (26-Sep-2013) its pre-close trading update ahead of reporting its preliminary results for the year ended 30-Sep-2013 on 10-Dec-2013. The company is confident of achieving at least 11% operating profit growth for FY2013 and said it has had a strong high-season summer 2013 trading in the UK and Nordics with revenues up 8% and 10% respectively. The company has sold approximately 31% of its overall mainstream programme for winter 2013/2014 with average selling prices across all key source markets up compared to 2012. TUI Travel stated unique holiday bookings in the UK, Nordics and Germany increased by 13%, 11% and 5% year-on-year respectively for summer 2013. TUI Travel stated online sales account for 48% of sales in the UK and 70% in the Nordics compared to 45% and 68% of sales in the UK and Nordics, respectively, in 2012. [more - original PR]

TUI Travel: "We are very pleased with our trading during the Summer 2013 high season, with most of our programmes now almost fully sold. Our strong performance in the market continues to be driven by increased customer demand for unique holidays and higher levels of direct distribution. As a result of this successful strategy, we are now confident of achieving full year underlying operating profit growth of at least 11% on a constant currency basis and are well positioned to continue to deliver on our five-year growth roadmap," Peter Long, CEO. Source: Company statement, 26-Sep-2013.