Tui upbeat on strong bookings

HOLIDAY company Tui Travel this morning said it was on target to hit the top end of its profit guidance this year as it was boosted by strong bookings.

FTSE-listed Tui said it had enjoyed a strong end to winter trading, with the same momentum continuing into the summer booking period.

UK and Nordic bookings were a bright spot, up nine per cent over the six months to March, with higher margins.

It said 46 per cent of its mainstream summer programme had been sold, with total bookings up two per cent and its average selling price rising by five per cent.

"Our strong operational performance over winter means we will deliver reduced winter losses," said Tui chief executive Peter Long.

"This very strong trading has continued into summer 2013, leaving us well placed to achieve a full-year performance towards the upper end of our growth targets."