Tui has transfromed itself from a traditional tour operator into “a developer, investor and operator of hotels and cruise ships” PHIL NOBLE/REUTERSInvestors in Tui Group breathed a sigh of relief today when the travel company said that it had largely avoided the turbulence hurting Thomas Cook and was maintaining its growth targets. Shares in the Anglo-German company rose by 57p, or 5 per cent, to close at £11.96, after Fritz Joussen, its chief executive, claimed that it had been “more or less immune” to the trends that had hit some of its rivals. It reported a 10.9 per cent increase in underlying earnings before currency translation to €1.22 billion in the year to September 30, meeting its target of achieving double-digit growth, and maintained its guidance for further double-digit growth in the coming year. Tui was created from the merger in 2014 of Tui Travel in…

Source: The Times December 13, 2018 12:00 UTC