Published on : Mar 17, 2015
Although the overall Swiss travel company fell, the Kuoni Group’s UK operations witnessed an improved performance last year.
Kuoni UK witnessed rise by CHF 1 million from 2013 to around CHF 9 million. The gross profit increased to CHF 77.9 million from CHF 74.4 million per year earlier. The UK turnover reached CHF 409.8 million from a value of CHF 402.1 million in 2013.
There have been travel alarms for important destinations in Thailand and Kenya. Based on this the UK market has generated higher earnings, reported the group today.
The group recorded drop in profits to CHF 67.4 mn from CHF 69.2 million all based on reduced turnover of CHF 5.5 billion.
Peter Meier proposed indications on the progress made on the tour operating businesses in its 2014 financial results. It also included Kuoni UK. The new strategic direction implemented in 2015 is functional according to the plan, he added.
Kuoni Group lays its focus on core business as the service provider in the governments and global travel industry. It also focuses on the strategic plans designed to increase the growth and profitability. The group has decided to put up for sale its tour operating activities. The business environment in the financial year 2014 was stable in comparison to the organic terms.
The GTD and VFS Global showed positive organic growth in Asian source markets as well and a net result similar to 2013. The turnover of the former was up by 8.8% in 2014 and that of the latter was 13.9% and a 30.6% in earnings.
The years 2015 to 2017 are aimed to achieve annual growth than the 3.8% industry growth rate.