HANOVER (dpa-AFX) - Tour operator TUI AG (TUIFF.PK) reported Thursday that its fiscal 2016 group profit for the year attributable to the shareholders surged to 1.04 billion euros from last year's 340.4 million euros. Earnings per share were 1.77 euros, higher than 0.63 euro last year.
The latest results were benefited by significant income related to discontinued operations.
Income from continuing operations increased to 464.9 million euros from 407.6 million euros a year ago. Earnings per share from continuing operations were 0.60 euro, compared to 0.65 euro last year.
Pro forma earnings per share were 0.86 euro, higher than 0.84 euro a year ago.
Turnover from continuing operations dropped 1.9 percent to 17.19 billion euros from 17.52 billion euros a year ago. At constant rates, turnover grew 1.4%.
Further, the company said its current trading for Winter 2016/17 and Summer 2017 remains in line with expectations.
Looking ahead, for fiscal 2017, the company expects to deliver at least 10% growth in underlying EBITA, and extend previous guidance of at least 10% underlying EBITA CAGR to 2018/19.
Turnover for the new year is expected to be approximately 3 percent higher than last year.
Further, the company said its Boards are recommending a dividend of 63 cents per share for the year, higher than 56 cents per share last year.
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