November 11, 2008
The Kuoni Group raised its third-quarter turnover by 4.0% to CHF 1 547 million in 2008. Earnings before interest and taxes (EBIT) for the period were increased by 8.2% to CHF 105.8 million. As a result, the CHF 3 775 million turnover generated for the first nine months of 2008 was an improvement of 7.4% on the prior-year period. Nine-month EBIT was increased by an even higher 15.7% to CHF 119.7 million. Strategic Business Units (SBUs) Scandinavia, Switzerland and Asia & Destination Management were the prime contributors to the encouraging turnover and earnings rises of the first nine months. At SBU United Kingdom, by contrast, the already-advanced economic crisis and the resulting consumer restraint continued to depress demand. Kuoni further pursued its growth strategy, acquiring Australian Tours Management and UK-based luxury tour operator Carrier in the third-quarter period.
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