Thomson and First Choice profits beat Thomas Cook results
Thomson and First Choice owner TUI Travel has reported an 8% jump in pre-tax profits to £390m with an "outstanding performance" in the UK, a week after rival Thomas Cook posted £483m in losses.
TUI Travel said today's results showed a "record year of profit" for the year to 30 September, with strong summer 2013 bookings already in the UK, Nordics and Germany, including a significant growth in profitable market share in the UK.
Peter Long, chief executive of TUI Travel, said the company achieved outstanding results against a backdrop of "continued economic uncertainty".
Announcing the next stage in the company’s strategic development, he said: "This roadmap for growth, built on our detailed understanding of the market and robust business models, means that we are well placed to continue to deliver long-term sustainable growth, which in turn, will drive further value for both our shareholders and customers."
TUI is expected to launch multimillion-pound marketing campaigns for its Thomson and First Choice brands at the end of the year, while rival Thomas Cook is currently finalising plans for its post-Christmas push.
Last week, Marketing revealed Thomas Cook had shelved its planned post-Christmas campaign without a solid replacement lined up, although the operator claims it will be spending £5m on its end-of-year push.
Thomas Cook last week reported pre-tax losses of £485.3m for the year to the end of September, up from £398.2m in 2011.Follow @loullamae_es
This article was first published on marketingmagazine.co.uk
- Head of UX & Digital Design Director MCG Associates tax free competitive package, Dubai (Emirate) (AE)
- Marketing Executive - Global Leading Oil and Gas Company Ninesharp Negotiable, Swindon
- Campaign Manaager Premier Media Negotiable, London
- Digital Marketing Executive - Global Telecoms Organisation Ninesharp Negotiable, Slough
- Motion Graphics Designer (User Interface Specialist) Salt £200 - £300 per day, London
- ZenithOptimedia loses £200m O2 business to Havas Media without a pitch
- Facebook IQ reveals marketing to millennials is flawed
- Breast Cancer Campaign crowd-sources videos for 'wear it pink' campaign
- Guardian joins forces with Telegraph for media planning tool
- Sir Martin Sorrell labels Omnicom CFO exit 'bizarre'
- OMD lands Liberty Global pan-Euro media