Tui’s summer profit bonanza

PACKAGE holiday firm Tui shrugged off a long summer heatwave as it said full-year profits would rise by at least 10pc.

It comes days after rival Thomas Cook’s shares plunged 28pc after it warned profits would be lower this year as warmer weather meant holidaymakers delayed trips.

Tui maintained expectations for the increase in full-year profits as it benefited from families heading for Turkey and North Africa. Greece and Bulgaria also proved popular.

Revenues rose 5pc for the summer with customer numbers and average selling prices up on last year.