Holiday giant TUI has reported a record first quarter performance, reiterating that it expects to see revenues grow by at least 10% this year and underlying earnings jump at least 25%.
TUI has just posted record financials for a first quarter; showing revenues of €4.3bn and underlying earnings of €6m for the 3 months to the end of December.
Based on current strong booking trends, the group believes it will meet its previously stated full-year 2024 financial targets. TUI’s financial year runs to the end of September.
First quarter earnings were €159m ahead of the corresponding period 12 months ago, while the revenue total marked a 15% year-on-year improvement.
TUI said in its latest results update: “Our focus is on operational excellence and execution. Our strategic roadmap, the strong operational recovery and the measures taken to strengthen our balance sheet, lay the foundations for future profitable growth.
“We have a clear strategy to accelerate profitable growth by increasing the customer lifetime value, creating a business which is more agile, more cost-efficient and achieving a higher speed to market with the aim to create additional shareholder value.”
