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BREAKING NEWS

Sun shines on TUI Travel as profit estimates rise

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Sun shines on TUI Travel as profit estimates rise

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TUI Travel, the world’s largest tour operator, has upped its end of year profit forecast.

The company says that demand for its winter holidays is strong outstripping rival Thomas Cook whose shares took a mauling after it reported a slow summer.

Seven weeks ago the company was looking at a 10 percent growth forecast, which has now been revised upwards to 11 percent.

Meanwhile, Thomas Cook has said its margins would be in line with expectations.

Markets reacted well to the news with TUI Travel shares up on the London FTSE.