Tui off to a flyer as early bird British defy price hit
Brits are already rushing to book their summer holidays for next year despite the threat of higher prices, helping tours operator Tui Group give an upbeat profit outlook.
UK revenues for summer 2017 bookings at the Anglo-German group are up 16%, with booking numbers rising 9%.
That’s despite UK holidaymakers facing more expensive prices on things like foods and drinks overseas because of the drop in the pound. Tui makes most of its money from summer bookings.
“If you think about Brexit, I don’t see a negative impact, which is good,” chief executive Friedrich Joussen said.
The feelgood factor helped the group extend profit forecast growth of 10% a year up to 2019.
Core earnings for the full year were 12.5% higher, despite challenges to key holiday markets, including a failed coup in Turkey and fears around terrorism in places like Egypt.
Turnover on a fixed currency basis rose by 1.4% to €17.1 billion (£14.6 billion), and core earnings just tipped over the €1 billion mark for the year ending September.
