It’s all systems go for TUI travel (LON:TT.). The tour operator’s full-year pre-tax profits took off 8% to £390mln from £360mln, while revenues fell 2% to £14.5bn.
This showed the results of TUI’s improved operational efficiency, which saved it £42mln during the course of the year.
TUI’s chief executive Peter Long called it a year of many successes.
“This roadmap for growth, built on our detailed understanding of the market and robust business models, means that we are well placed to continue to deliver long-term sustainable growth, which in turn, will drive further value for both our shareholders and our customers,” he added.
The company said it was encouraged by the number of bookings for this winter and next summer, but said that conditions in France continue to weigh on the business.
Despite this setback, the company felt confident enough to raise its dividend to 11.7p per share from 11.3p.
Meanwhile investors chomped down on some fairly meaty numbers from brewer Greene King (LON:GNK).
Casual diners helped the company post a 7% increase in half-year pre-tax profits to £82.7mln as cash-strapped customers leaned towards cheaper pub food instead of fine dining.
Greene King, which brews the Greene King IPA and Old Speckled Hen ales, made 12% more food sales in the period, taking the food business’s share of total sales to 40%.
“While we continue to see a challenging environment for the UK consumer, our strategy has been tailored for these conditions - we provide our customers with 'everyday treats' and value for money,” said CEO Rooney Anand.
Gold miner Medusa Mining (LON:MML) said that those fearing the effects of Typhoon Pablo needn’t have worried.
The company confirmed today that Typhoon Pablo had passed by north of its operations in the Philippines with no significant effects.
Elsewhere, Jupiter Energy’s (LON:JPRL) sixth exploration well has hit significant oil underlining the huge potential of the southern extension of its Block 31 permit in Kazakhstan.
It has encountered net pay oil over 75.6 metres in the Mid Triassic T2B reservoir, while an additional 52 metres was found in the Mid Triassic T2B.
The company is now preparing to test that latter oil-bearing horizon for up to 90 days.
The structure identified by the J-58 well has been mapped as separate accumulation to that already established East Akkar discovery.
Jupiter believes this new prospect may contain an additional 10 million barrel potential resource.
Mobile solutions and software-as-a-service provider Globo (LON:GBO) has sold a controlling stake in its traditional e-business software operations in Greece to management.
The management team are paying €11.2mln for 51% of Globo Technologies (GT). Globo will retain a 49% stake in the business.