Shares in Tui have tumbled after the holiday giant cut its earnings forecast as it nurses a hit from last year’s “extraordinary hot weather” and the weak pound. Shares in Tui have tumbled after the holiday giant cut its earnings forecast as it nurses a hit from last year’s “extraordinary hot weather” and the weak pound. This compares to previous guidance for at least 10% growth in earnings during the three years to 2020. Explaining the downgrade, TUI said the out of the ordinary hot weather last summer resulted in later bookings and also hit margins. It also cited the “continued weakness of the pound sterling, making it difficult to improve margins on holidays sold to UK customers”.

Source: Irish Independent February 07, 2019 09:56 UTC