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
- Affiliates Executive - No. 1 Agency! GoodEgg Digital Circa £25k + Exceptional Benefits, Central London
- Digital Display Manager - Leading Agency GoodEgg Digital £Neg + Great Benefits, South East England / London (Central), London (Greater)
- Senior Marketing Director - 9-12 month FTC Comedy Central £competitive, Camden, London (Greater)
- Graphic Designer Ninesharp £85 - £89 per day, Daventry
- Account Manager Dynamic New Alliances £27000.00 - £30000.00 per annum, City of London
- Channel 4 to drop 4oD for digital service All 4
- Guardian launches three-tier membership scheme
- FT to reveal first design overhaul in seven years
- David Hasselhoff to join Sorrell, Naughton and Shing at IAB Engage 2014
- Sky boosts Sky AdSmart's targeting capabilities for advertisers
- 5 key trends from Dmexco 2014