TUI Travel PLC (LSE: TT), a UK-based travel company, has reported that travel bookings in the UK market have increased in the third quarter of 2012, ended June 30, 2012.
The company, considered to be one of the major players in the travel sector in the UK, has reported that 63 percent of its bookings are from the UK for the summer of 2012, up by 7 percent from last year.
Peter Long, the chief executive officer of the company, said, ‘We are pleased with our performance, driven by our strategy of differentiated and exclusive product with a focus on online distribution. We are significantly outperforming the market in the UK.
Summer 2012 volumes have improved in most key markets since our last update. We are seeing strong demand and lates margins for the peak summer period. Our Winter 2012/2013 programme has had an encouraging start.
We are confident of exceeding our full year expectations based on like for like exchange rates, however, the impact of retranslation of fourth quarter Eurozone profits at current exchange rates leaves us to believe we will perform in line with our expectations for the full-year.’
For the 2012 winter season, the company has reported flat UK bookings, in line with capacity, with the average selling price up by 3 percent from the same period in 2011, and differentiated bookings up by 9 percent more than in the same period of 2011.
The company has reported a total operating profit of £74m on revenues of £3.9 billion in the third quarter of 2012, compared to a total operating profit of £88m on revenues of £3.7 billion in the third quarter of 2011.