TUI Group on track for growth after FY earnings rise 12.5 pct

LONDON, Dec (Shanghai: 600875.SS - news) 8 (Reuters) - TUI Group, Europe's largest travel company, posted core earnings growth of 12.5 percent in its 2015/2016 financial year, in line with a forecast, and said it was extending by a year an existing profit target.

TUI (LSE: 0NLA.L - news) said that at constant currency rates, core underlying profit (EBITA) came in at 1.030 billion euros ($1.11 billion)in the 12 months ended Sept. 30, up 12.5 percent compared to the year before, and in line with its forecast for growth of between 12 and 13 percent.

Given its confidence in future growth, TUI said it was extending to its 2017/18 financial year from 2017/18 currently, its guidance for profit to rise by at least 10 percent a year.

($1 = 0.9291 euros) (Reporting by Sarah Young; editing by Kate Holton)