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Holiday operator TUI (LON:TUI) recorded its fourth consecutive year of double-digit EBITDA growth during the twelve months ended 30th September despite challenging market conditions over the period. Turnover for the year was 5.3% higher than previously, but earnings before tax dropped 10.2% to €972 million.
The majority of the growth in sales came from hotels, cruises and destination experiences as the prolonged hot weather throughout the summer throttled the performance of the company’s flights and markets division.
The price of shares in TUI climbed by 5.44% to 1,201p (as of 11:00 GMT).