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TUI Group reiterates guidance despite "challenging environment"
May 15, 2017 / 6:07 AM / 7 months ago

TUI Group reiterates guidance despite "challenging environment"

BERLIN, May 15 (Reuters) - TUI Group, Europe’s largest tour operator, reported a wider second-quarter loss, hit by the late timing of Easter this year and said it was on track to meet its full-year targets despite a challenging environment.

The group reported an underlying EBITA loss of 177.7 million euros ($194.2 million), at constant currency, against a loss of 126 million in the year-earlier period.

Adjusted for the late timing of Easter this year, the loss for the first six months of the financial year improved 6.3 percent to 193.3 million euros, TUI said.

It confirmed a target to increase underlying earnings before interest, tax and amortisation (EBITA) by at least 10 percent this year.

“Guidance remains unchanged despite a challenging environment,” Chief Executive Fritz Joussen said in a statement.

$1 = 0.9150 euros Reporting by Victoria Bryan; Editing by Maria Sheahan

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