TUI: confirms earnings estimates - share rises
(CercleFinance.com) - On Tuesday TUI confirmed its FY 2019/2019 earnings estimate, performance that led to its share price increasing in London this morning.
The tour operator reported Q3 underlying Ebita of 100.9 million euros, down 46% year-on-year.
However, the German group confirmed its target of a more limited decline (around 26%), of its FY underlying earnings, after 1.18 billion euros in 2017/2018.
In a statement, TUI said it expects revenues to improve this summer, after a particularly hot summer in 2018, which led holidaymakers to prefer local stays.
According to the group, bookings and profit margins have even tended to improve in recent weeks.
In all, these encouraging statements, led to the TUI share, listed on the London Stock Exchange, increasing by over 3% on Tuesday morning. However, since the beginning of 2019, note that the share has still fallen by over 25%.
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