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27

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Tui profits up 43%
Thursday November 27, 2008 - Email this article to a friend

Europe's biggest travel firm bucks the trend and reports rise in profits.

The group includes the skiing companies Thomson, Crystal and First Choice.  It has today reported a pre-tax profit for the year to Sept 30 of £319.7 million, compared with £222.8 million the year before.

The increase came as the Thomson parent group benefited from a strong performance in the UK and advantages from the recent merger with Frist Choice.

The UK and Ireland division saw underlying profits rise by £76.5 million to £132.9 million as loss-making scheduled flying was cut for last winter by 22% and 43% in summer while total charter capacity came down by 5% and 7% respectively. 

The group is seeing "encouraging" early sales for summer 2009 with UK charter averge selling prices up by 10%.

Capacity from the UK for next summer has been cut by 16%, with volumes down by 17% on selling pirces up by 10% year-on-year.

The company said it was continuing to focus on managing capacity "in anticipation of a weaker early booking environment".

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