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TUI Group confident on hitting profit growth target

Reuters - UK Focus

LONDON, March 25 (Reuters) - Tour company TUI Group said it was confident of meeting a target to grow full-year underlying operating profit by between 10 and 15 percent, helped by rising holiday sales and prices.

The company, formed in December from the merger of London-listed TUI Travel and German majority owner TUI AG (LSE: TUI.L - news) , also said on Wednesday that it expected its underlying first half result this year to beat last year's.

TUI said holiday sales for its winter season rose 1 percent while holiday prices for the coming summer were also 1 percent higher, with summer bookings also up 1 percent.

The company, the world's largest leisure tourism group which competes against Thomas Cook (Xetra: A0MR3W - news) , is due to publish its first-half results in May. (Reporting by Sarah Young)