TUI Travel, the largest European tour operator by revenues, has reported a strong H1 2014 performance. Peter Long, Chief Executive of TUI Travel PLC commented
Demand Continues to grow in online bookings, a key element of our digital transformation. Overall, we are pleased with Summer 2014 trading, against strong comparatives, and we remain confident of delivering 7% to 10% growth in underlying operating profit during the year
This news is well received. In fact, TUI Travel has shown that 38% of all H1 2014 sales were made online. This is a 4% growth against 2013’s H1 figure of 34%, and a strong indicator that their investment in a strong online presence has added to TUI Travel’s success in 2014. The online division and a number of other well-thought-out strategies will no doubt continue to add further value.
The British group had experienced a recent drop in their share prices at the start of June 2014 (trading at 445.50 in May and now trading at 387.58 in June). This was a little surprising, as they had just announced a full years trading prediction that would’ve seen them hopefully improving on last year’s profit by an estimated £589 million, an improvement of around 7-10%. The demand for bespoke/unique holidays has grown and now accounts for 70% of TUI Travel’s total sales in H1 of 2014. They are strong in the area of bespoke holidays due to their 250 diverse brands in 180 countries that offer numerous activities to their customers.
The travel industry is affected by all manner of events, from civil unrest to the weather. That being said, TUI Travel PLC has performed well in H1 of 2014 and is expected to continue on its path to steady growth.
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