Trading Update
Prior to entering its close period ahead of reporting its Preliminary results for the year ended 30 September 2012 on 4 December 2012, TUI Travel PLC announces the following update on current trading.
Highlights
- Remain on track to meet our full year expectations.
- Strong trading for Summer 2012 high season, with improved margins and load factors versus the prior year.
- Encouraging start to Winter 2012/13 trading. Strong differentiated product and online sales performance, particularly in the UK and Nordics.
- In A&D, Winter 2012/13 bookings are up 14% and sales (TTV) up 32% versus the prior year.
- In the UK, early bookings for Summer 2013 are significantly outperforming the market, particularly for our differentiated product.
- Business improvement programme progressing to plan.
Peter Long, Chief Executive of TUI Travel PLC, commented
"We are very pleased with our Summer 2012 performance, with most of our programmes now almost fully sold. High demand in the peak Summer period, driven by our strategy of differentiated and exclusive product distributed online, has resulted in strong lates margins and load factors.
"We remain on track to meet our full year expectations, with strong underlying trading offset by the impact of re-translation of fourth quarter Eurozone earnings. Our continued outperformance in a challenging macroeconomic environment demonstrates our robust strategy is delivering clear results."
