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TUI Group annual earnings beat guidance

Reuters - UK Focus

LONDON, Dec 10 (Reuters) - TUI Group, the world's largest leisure tourism group, reported a 15.4 percent rise in annual profit, beating the top-end of its own guidance, and said it was on track to deliver growth of at least 10 percent this year.

European demand for leisure travel has remained strong, despite a series of militant attacks and related security concerns which earlier this year forced TUI (LSE: TUI.L - news) to alter its holiday programme, costing it up to 40 million euros ($44 million)in cancelled trips.

TUI reported underlying core earnings (EBITA) of 1.004 billion euros for the twelve months ended Sept. 30, ahead of its forecast for an annual profit rise of between 12.5 percent and 15 percent on a constant currency basis. ($1 = 0.9099 euros) (Reporting by Sarah Young; editing by Kate Holton)