Revenues up 9% at Thomson Holidays owner

TUI travel, the tour operator behind the Thomson Holidays and First Choice brands, has posted a 9% rise in revenues for the full year to 30 September, to £14.7bn.

Thomson: owner TUI posts strong revenues
Thomson: owner TUI posts strong revenues

The group made a statutory pre-tax profit of £144m, compared to a pre-tax loss last year of £73m after the impact of merger costs and the volcanic ash cloud in 2010.

Underlying pre-tax profit jumped from £280m last year to £360m.

TUI's positive results come after the tour operator's rival, Thomas Cook, secured a £200m safety-net from its banks after issuing three profit warnings in the space of a year. It has also delayed the announcement of its own full-year results.

In TUI's "record" past 12 months, its underlying operating profits increased 18% to £471m, "despite the challenging geopolitical and economic environment".

Peter Long, TUI Travel chief executive, said: "We are very pleased with our robust performance in 2011 and have delivered another year of profit growth, against a backdrop of unrest in key North African destinations and weak consumer sentiment in some source markets.

"The UK, Nordic region, Belgium, the Netherlands, Canada and Austria delivered record results.

"These achievements reflect the strength of our strategy to increase differentiated and exclusive product sales, increase controlled distribution with a focus on online to enhance our customer access and reduce distribution costs, and our delivery of the turnaround and cost efficiency programmes."

Last week TUI announced the promotion of Jeremy Ellis to the role of marketing director.

Follow Loulla-Mae Eleftheriou-Smith on Twitter @LoullaMae_ES

Become a member of Campaign from just £45 a quarter

Get the very latest news and insight from Campaign with unrestricted access to campaignlive.co.uk ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content

Share

1 Why creative people have lost their way

What better way to kick off Campaign's relaunch than with another think piece on the current failings of our industry, written by an embittered, pretentious creative who misses "the way things used to be"...

Share

1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).