TUI Travel PLC provided (27-Mar-2013) a pre-close trading update prior to entering its close period ahead of reports its interim results for the six months ended 31-Mar-2013. The company noted that winter programmes across its mainstream markets are almost fully sold and that "the season is ending strongly with higher average selling prices and margins across our key source markets". The company added: "We remain particularly pleased with trading in the UK and Nordic source markets, where we see double-digit revenue growth. Average selling prices and margins across all key source markets are up year-on-year. To date 46% of the overall Mainstream Summer programme has been sold. In Accommodation Wholesaler and Specialist & Activity, trading remains in line with expectations". The company has hedged the majority of its fuel and currency requirements for the seasons currently on sale, noting that this "gives us certainty of costs when planning capacity and pricing". [more - original PR]
TUI Travel pleased with trading in UK and Nordic source markets, with double-digit revenue growth
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