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Turnover down for Kuoni UK classic tour operating
Kuoni UK’s classic tour operating saw turnover fall in the first half of 2007, but overall performance was boosted by newly-acquired specialist operators.
Announcing its half-year results, the group said overall turnover for the UK was up 12.9% on the previous year.
Meanwhile, earnings before interest and taxes (EBIT) for the UK was CHF 22.9 million, only slightly up on the CHF 22.7 million of January to June 2006.
The Kuoni Group as a whole saw first-half profits fall 57% to CHF 3.5 million “because the prior-year result included the release of a CHF 10 million provision for taxes in the UK which was no longer required”.
Looking ahead, booking levels for August 19 were 13% above their 2006 equivalents in Swiss-franc terms, it said.
Year-on-year, UK bookings are up by 15%.
It said group EBIT for July, which accounts for over a third of total EBIT for the year, was “largely in line with the highly favourable result achieved for July 2006, strengthening Kuoni’s confident outlook for 2007 as a whole”.
But it added: “While prospects are promising in booking-level terms, however, precise full-year projections remain difficult to make, given the markets’ present volatility.”
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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