TUI Travel remains in the red in 1HFY2012, in line with management expectations
TUI Travel revenue up 5% - financial highlights for six months ended 31-Mar-2012:
- Total revenue: GBP5724 million, +5% year-on-year;
- French airline: GBP200 million, -6.1%;
- Jet4You: GBP36 million, -5.3%;
- Underling* operating profit (loss): (GBP317 million), compared to a loss of GBP307 million in p-c-p;
- French airline: (GBP19 million), compared to a loss of GBP3 million in p-c-p;
- Jet4You: (GBP8 million), compared to a loss of GBP10 million in p-c-p;
- Profit (loss) before tax: (GBP367 million), compared to a loss of GBP364 million in p-c-p;
- Total assets: GBP9025 million, -0.3% when compared to period ended 30-Sep-2011;
- Cash and cash equivalent: GBP424 million, -53.0% when compared to period ended 30-Sep-2011;
- Total liabilities: GBP7593 million, +6.7% when compared to period ended 30-Sep-2011. [more - original PR]
*Underlying operating loss excludes separately disclosed items, amortisation of business combination intangibles, acquisition related expenses, predecessor accounting for Magic Life in 1H2011 and interest and taxation of results of the Group’s joint ventures and associates
TUI Travel: “Overall trading in the second half is in line with our expectations with Summer volumes in all key markets, with the exception of France, continuing to improve. Given the challenging economic environment, we remain cautious, however, overall, trading performance continues to be in line with the Board’s expectations.” Source: Company statement, 08-May-2012.
TUI Travel: “The Airline result, whilst lower than last year, reflects the continuing competitive market place, however, the restructuring programme is progressing as planned.” Source: Company statement, 08-May-2012.