TUI Group has seen underlying profits before tax slip during the third quarter of financial 2011, with EBITA decreasing by 11 per cent to €96 million from €108 million the previous year.

In a set of mixed results, Europe’s largest tour operator said political turmoil in North Africa – particularly Egypt – was responsible for the loss.

TUI AG – which owns TUI Travel and Thomson – saw revenues increase nine per cent to €4.4 billion.

Despite the losses TUI AG expects turnover growth for the overall financial year 2010/11. 

“TUI continues to expect the Group result for the year to be positive,” added a statement.

While TUI Travel, TUI Cruise and TUI Hotels & Resorts all saw growth in revenue, TUI AG warned profits from its container shipping business would be “lower than anticipated”.

TUI AG retains a 38 per cent stake in Hapag-Lloyd.

“In the third quarter, turnover declined by almost nine per cent year-on-year to around €1.5 billion,” explained a statement.

“This development was mainly attributable to the 11 per cent weakening of the US dollar against the euro, while transport volumes rose slightly and freight rate levels remained almost stable.”