TUI: reiterates guidance; shares edge down
(CercleFinance.com) - Germany's TUI, one of the biggest travel companies in Europe, on Wednesday reiterated its guidance for the current financial year.
Based on a "good performance" in the first half and "strong current trading," the group said it is on track to deliver at least 10% underlying EBITA growth in full-year 2018.
TUI AG's second-quarter underlying loss before interest, tax and amortisation (EBITA) narrowed to 31.5 million euros from a loss of 59.9 million in the same period a year earlier.
Its net loss also narrowed, to 141.5 million euros, from -163.9 million euros one year earlier.
For the first half, TUI said turnover increased by 7.2% to 6.81 billion euros, helped by additional hotel and cruise ship capacity as the company deploys the proceeds from disposals into higher returning assets.
The London-listed TUI share was down 1.8% after the results were published.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Based on a "good performance" in the first half and "strong current trading," the group said it is on track to deliver at least 10% underlying EBITA growth in full-year 2018.
TUI AG's second-quarter underlying loss before interest, tax and amortisation (EBITA) narrowed to 31.5 million euros from a loss of 59.9 million in the same period a year earlier.
Its net loss also narrowed, to 141.5 million euros, from -163.9 million euros one year earlier.
For the first half, TUI said turnover increased by 7.2% to 6.81 billion euros, helped by additional hotel and cruise ship capacity as the company deploys the proceeds from disposals into higher returning assets.
The London-listed TUI share was down 1.8% after the results were published.
Copyright (c) 2018 CercleFinance.com. All rights reserved.