Tui Travel records strong annual profits

Tui Travel records strong annual profits

Tui Travel has reported an eight per cent rise in annual profits, hailing an “outstanding performance” by its UK business.

The company, which owns Thomson and First Choice, made a profit of £390 million in the year to September 30th.

This is up from £360 million a year ago.

However, revenues fell two per cent to £14.5 billion.

Despite a one per cent fall in British and Irish travellers, UK-based Tui said profits from its home markets rose 32 per cent.

The strong performance at its UK business helped to offset a five per cent fall in French bookings, while in Spain and Italy they were down ten per cent.

Chief executive Peter Long said: “The year has been one of many successes.

“We have delivered record group profits while the UK achieved outstanding results both in terms of profit and margin all against a backdrop of continued economic uncertainty.

“Our proven strategy continues to evolve and drive strong trading momentum throughout the group.”