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: UK performance helped boost annual profits to £390m
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
Latest jobs Jobs web feed
- Senior Fundraising Development Officer Comic Relief From £35,000pa, London (Central), London (Greater)
- Senior Digital Creative Manager UCAS £comp + 25-days leave, flexible benefits and other fringe benefits, including Xmas closure , Cheltenham, Gloucestershire
- Digital Media Manager Save the Children £37,000 + Benefits, London (Greater)
- Consumer Activation Controller Mast-Jaegermeister UK Limited Salary depending on experience. Additional bonus, pension, BUPA, life assurance, 25 days' holiday., Camberley, Surrey
- PR Manager AF Selection £25,000 - £35,000 + Benefits, Manchester, Greater Manchester
- ACCOUNT DIRECTORS - Integrated/ATL/TTL/BTL/SP/Shopper/Retail - London - up to £45k Judi Patton £40k-£45k plus excellent benefits, London (Central), London (Greater)