Made any decision yet Lundon? I see BLNX is up again today, thankfully.
Any take on TC? Nice rise the last few days but still short from where it was a week or so ago. The rise based on expectation of good news following on from EZJ/TT, hopefully reach 190 by the end of the week and more importantly...HOLD!
seems promising!!.. here's hoping Annet Aris can sort out the French division which at last results was clearly dragging on our numbers
as I suspected.. I freed up a pot to move in and like little fish fleeing a net, any chance of even low 170's looks like a fleeting opprtunity.. not buying any more above 180 having been burnt twice this year.. but may consider high 170's if stable today.. then again I may tip all of it in Blinkx..
Seems pretty good , hope we can match it or maybe exceed in some areas, if we can and info on more costs coming out, should be ok ....................... nice of HG to release an rns on same day as well, was that deliberate ? lol !
compared with this time last year, whilst online sales continue to grow, accounting for 40% of Winter holidays booked, up by five percentage points. We continue to see strong trading in Accommodation Wholesaler with TTV up by 20% and Specialist & Activity is closing out in line with our expectations. Current Trading1 incl Egypt Winter 2013/14 YoY variation% Total ASP2 Total Sales2 Total Customers2 Programme sold (%)
MAINSTREAM UK +3 +1 -1 93 Nordics -2 -3 -1 100 Germany +4 -5 -9 95 France tour operators +14 -30 -38 99 Other3 +2 +1 -1 Total Mainstream +3 -4 -6 97
Accommodation Wholesaler4 Flat +20 +20 1 These statistics are up to 16 March 2014 and are shown on a constant currency basis 2 These statistics relate to all customers whether risk or non-risk 3 Other includes Austria, Belgium, Netherlands, Poland and Switzerland 4 These statistics refer to online accommodation businesses only; Sales refer to total transaction value (TTV) and customers refers to roomnights Summer 2014 The Summer 2014 programme is trading in line with expectations with flat Mainstream bookings overall against tough comparatives. Average selling prices across Mainstream are up by 2%. We continue to see strong demand for our unique holidays, which account for 72% of Mainstream bookings, up two percentage points. Mainstream online bookings are up 8%. Encouragingly, our German business continues to grow online, with bookings up by 22%. To date, approximately 45% of the overall Mainstream Summer programme has been sold, in line with this time last year. Accommodation Wholesaler continues to grow strongly with TTV up by 33%, driven by the Latin American and Asian markets. We are also encouraged by the recent trading performance in our restructured Specialist & Activity business with sales up by 3%. Fuel/Foreign exchange Our strategy of hedging the majority of our fuel and currency requirements for future seasons, as detailed below, remains unchanged. This gives us certainty of costs when planning capacity and pricing. The following table shows the percentage of our forecast requirement that is currently hedged for Euros, US Dollars and jet fuel. Winter 2013/14 Summer 2014 Winter 2014/15 Euro 99% 87% 53% US Dollars 98% 90% 68% Jet Fuel 93% 87% 58% As at 21 March 2014 Outlook We are pleased with the development of Summer 2014 trading since our last update, despite strong comparatives. The UK and German businesses are driving a strong result and we are encouraged by the sustained improvement within our Specialist & Activity and French businesses. Our Accommodation Wholesaler business continues to achieve sustained double-digit growth. We remain on track to deliver an H1 result broadly in line with last year, excluding the timing of Easter which falls in the second half of the year. Our customers are increasingly seeing the benefits of our digital transformation strategy, which in turn is driving conversion improvemen
Peter Long, Chief Executive of TUI Travel PLC, commented:
"We are pleased with trading during the Winter 2013/14 season, with most of our programmes now almost fully sold. We have once again successfully demonstrated the flexibility and resilience of our business model enabling us to absorb the impacts of geopolitical events more effectively, including the ongoing turbulent political situation in Egypt.
Summer 2014 trading is in line with expectations, with a strong online performance across Mainstream, particularly in the UK and Germany. Demand for unique holidays also remains strong. Our customers are increasingly seeing the benefits of our digital transformation strategy, which in turn is driving conversion improvements from our new web platforms. We remain on track to deliver an H1 result broadly in line with last year, excluding the timing of Easter, and are confident of achieving a full-year performance in line with our target of growing underlying operating profit by 7 to 10%1."
· Robust Modern Mainstream model
- Winter 2013/14 trading closing out as expected, with higher average selling prices across most of our key source markets.
- Summer 2014 bookings are flat against tough comparatives, with strong pricing and approximately 45% of the programme sold.
- Pleased with trading, particularly in the UK and Germany.
- France on track to reduce operating losses through restructuring and capacity management.
· Unique holidays driving demand
- Rising demand for unique holidays continues and now accounts for 72% of Mainstream Summer 2014 bookings, up two percentage points on prior year.
- Strong online performance with Mainstream Summer 2014 online bookings up by 8%.
· Accommodation Wholesaler growth
- Accommodation Wholesaler continues to build a global leadership position with TTV up by 33% for Summer 2014.
1 Constant currency basis assumes that constant foreign exchange translation rates are applied to the underlying operating result in the current and prior year
CURRENT TRADING & OUTLOOK
Winter programmes across our Mainstream markets are now almost fully sold. The season is ending with higher average selling prices across the Sector overall, despite the weaker trading environment in the Nordics. This is driven by a continued focus on growing our core package holiday offering. Overall Mainstream bookings are down by 6% with average selling prices up by 3%. This is in line with expectations, driven by capacity cuts to Egypt and a removal of loss-making routes within the French and German source markets.
Unique holidays account for 70% of all Mainstream bookings, up four percentage point
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