German tourism group TUI announced on Wednesday a loss for its second quarter, but also "record" sales for the period, thanks to strong demand for destinations such as Egypt and the Canaries, as well as Cape Verde.

For the three months to the end of March, the tour operator reported a reduced operating loss of 188.7 million euros, compared with a loss of 242.4 million euros for the same period last year.

Although the January-March period is traditionally a slow one for the sector, TUI claims to have posted "record" sales of 3.65 billion euros, corresponding to a 15% year-on-year increase.

"The message delivered by the group is that, despite continuing losses, the situation has clearly improved", reacted Deutsche Bank analysts.

The tour operator also reaffirmed its outlook for full-year sales growth of at least 10% and an improvement of more than 25% in operating profit before non-recurring items (Ebit).

At around 9:45 a.m., TUI shares on the London Stock Exchange were up more than 2% in reaction to these figures. However, the share price has remained broadly stable since the start of the year.

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