Key highlights
Underlying EBIT up 39%, a rise of £77 million to £274 million on a last 12 months like for like basis (LTM ended 31 March 2013: £197 million); for the six months ended 31 March 2014 underlying EBIT improved by £30 million to £(187) million on a like for like basis (six months ended 31 March 3013: £(217) million)
Wave 1 FY15 cost out and profit improvement target up £20 million to £460 million. Wave 2 FY18 target of over £400 million; initial risk weighted benefits identified so far of £150 million
Online bookings increased to almost 39% over the last six months. Annual web booked revenues now represent approximately £3 billion; mobile and tablet bookings almost £0.5 billion
Strong new product demand: Summer concept hotel bookings up 44%, UK Winter 14/15 bookings up 11%. Around a third of Group revenue is from more flexible rather than traditionally packaged products
Summer 2014 booking performance is developing well with solid volumes in our main markets
