No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Travel firm TUI lifted its full-year profit outlook on Tuesday following a strong performance in the first nine months of the year and "initial positive indications" for July.
In a brief update ahead of its third-quarter results on Wednesday, TUI said that as per 30 June, group revenue stood at 14.7bn, up 1.0bn at constant currency, with an underlying EBIT of 199m, up 150m.
Results have been driven by a record Hotels & Resorts and Cruises performance, while the environment in the markets & airline segment remains "challenging in a competitive market", TUI said.
As a result, the company now expects full-year underlying earnings before interest and tax to rise between 9% and 11% year-on-year at constant currency, up from a previous range of between 7% and 10%.
TUI also said it expects revenue to increase at the lower end of its 5% to 10% range. It said the new guidance is provided "within the framework of the current trading environment as well as macroeconomic and geopolitical uncertainties".
At 1500 BST, the shares were up 3.8% at 7.92.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.