HANOVER (dpa-AFX) - TUI Group or TUI AG (TUIFF.PK), a German leisure and travel company, on Wednesday reported an increase in net profit for the full year, helped by an increase in revenue, driven by all businesses, in particular Hotels and Resorts as well as Cruises.
For the 12-month period to September 30, the company reported a net profit of 507.1 million euros or 0.99 euro per share, higher than prior year's 305.8 million euros or 0.80 euro per share.
Earnings before income taxes moved up to 861.4 million euros from 551.2 million euros in 2023. EBIT stood at 1.275 billion euros as against 999 million euros a year ago.
Underlying EBIT improved to 1.296 billion euros from last year's 977 million euros.
Underlying EBIT from Hotels and Resorts business stood at 668 million euros, higher than 549 million euros in 2023. Cruises business posted underlying EBIT of 374 million euros, compared with prior year's 236 million euros.
Revenue was 23.167 billion euros, up from previous year's 20.665 billion euros.
Looking ahead, for the full year, the Group expects its underlying EBIT to increase by 7 to 10 percent, driven in particular by the company's expectations for summer 2025. Annual Revenue is also projected to grow by 5 to 10 percent.
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