TUI Travel expecting FY2014 profit growth of 9%

TUI Travel announced (02-Oct-2014) it expects FY2014 operating profit growth of "at least 9%", primarily driven by strong UK trading and increased demand for tailored and all-inclusive package holidays. TUI Travel CEO Peter Long said: "We are very pleased with our trading during the Summer 2014 peak season, particularly in the UK and Germany, with most of our programmes now almost fully sold. Our strong trading and market performance continues to be driven by increased customer demand for unique holidays and higher conversion rates from our web platforms, driven by our digital transformation strategy." Mr Long added: "Our flexible and resilient business model is enabling us to deliver sustainable, profitable growth against a backdrop of more competitive trading in the commodity space and an increase in airline capacity. As a result of our successful strategy, we are confident of achieving full year underlying operating profit growth of at least 9% on a constant currency basis, versus our previous guidance of 7% to 10%." [more - original PR]