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Tui faces challenging market

Tui faces challenging market

A rally in Tui's (TUI) shares on results day suggests the market was pleased – or at least relieved – by these full-year numbers. It’s been a turbulent year for travel stocks as the recent British heatwave put many would-be tourists off travelling abroad. And Tui hasn't found itself immune to a consequent profit hit, either. Adjusted pre-tax profits fell 10 per cent to €972m (£872m) despite a 6.3 per cent increase in sales to €19.5bn. Bosses admitted the market was "challenging", but said the group's "double diversification" – both across destinations and markets – had made it more resilient.

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