German tourism services provider TUI AG (TUIFF.PK: News ) Thursday reported a loss for the third quarter, hurt by the impact of unrest in North Africa. However, turnover for the period improved 9.3 percent, with higher volumes in all of its three sectors. The company said it continues to expect result for the fiscal to be positive, Rttnews reports.
In the quarter, TUI posted a loss attributable to shareholders of 40.5 million euros, compared to a profit of 4.1 million euros reported in the previous year.
Group loss was 39.6 million euros, wider than 12.2 million euros last year. On a per share basis, loss widened to 0.18 euros from 0.01 euros per share in the prior year.
Underlying EBITA declined 11.3 percent to 96.2 million euros from 108.4 million euros in the preceding year. The company noted that the quarterly results were affected by events in North Africa, which was not fully offset by the gratifying level of trading and lower profit contributions from Container Shipping.
Turnover for the quarter rose 9.3 percent to 4.39 billion euros from 4.02 billion euros in the previous year. TUI said all of its three sectors, tour operators, hotels and cruises, delivered year-on-year increases in sales volumes.
In the third quarter, Container Shipping turnover declined about 9 percent to around 1.5 billion euros, mainly due to 11 percent weakening of the US dollar against the euro. Transport volumes rose slightly and freight rate levels remained almost stable, the company added.
In the light of the current trading, TUI confirmed its guidance, expecting turnover growth for the overall financial year 2010/11.
Despite the impact of events in North Africa, operating earnings, or underlying EBITA, are expected to be in line with last year.
In Frankfurt's XETRA, TUI shares are currently trading at 4.87 euros, up 4.1 percent, on a volume of 297 thousand shares.
In the quarter, TUI posted a loss attributable to shareholders of 40.5 million euros, compared to a profit of 4.1 million euros reported in the previous year.
Group loss was 39.6 million euros, wider than 12.2 million euros last year. On a per share basis, loss widened to 0.18 euros from 0.01 euros per share in the prior year.
Underlying EBITA declined 11.3 percent to 96.2 million euros from 108.4 million euros in the preceding year. The company noted that the quarterly results were affected by events in North Africa, which was not fully offset by the gratifying level of trading and lower profit contributions from Container Shipping.
Turnover for the quarter rose 9.3 percent to 4.39 billion euros from 4.02 billion euros in the previous year. TUI said all of its three sectors, tour operators, hotels and cruises, delivered year-on-year increases in sales volumes.
In the third quarter, Container Shipping turnover declined about 9 percent to around 1.5 billion euros, mainly due to 11 percent weakening of the US dollar against the euro. Transport volumes rose slightly and freight rate levels remained almost stable, the company added.
In the light of the current trading, TUI confirmed its guidance, expecting turnover growth for the overall financial year 2010/11.
Despite the impact of events in North Africa, operating earnings, or underlying EBITA, are expected to be in line with last year.
In Frankfurt's XETRA, TUI shares are currently trading at 4.87 euros, up 4.1 percent, on a volume of 297 thousand shares.