TUI also said demand from British holidaymakers had not been hit by the decision to leave the European Union. Adjusted for the timing of Easter and currency effects, profit would have been up 14 percent in the third quarter, TUI said. Many more northern Europeans were opting to holiday in Spain, where TUI is traditionally strong, and flying on lucrative long-haul packages across the Atlantic, instead of holidaying in Turkey and North Africa, TUI said. Shares in TUI were up 4.3 percent at 1,055.2 pence at 0727 GMT, making them the top gainer in Britain's FTSE 100 index. TUI confirmed on Thursday that it would deliver underlying profit growth of at least 10 percent at constant currency rates in the 12 months ended Sept. 30, despite lowering its sales forecast after security concerns in Turkey and elsewhere deterred holidaymakers.

Source: The North Africa Journal August 11, 2016 05:11 UTC