Europe's largest tour operator Tui rose on Tuesday after reporting a better-than-expected operating profit for the first quarter of its broken financial year (October-December 2023). The share rose in London and Frankfurt

Tui's operating profit for the period came in at 6 million euros, which was better than analysts' expectations of a loss of 102 million euros, writes Reuters. Results for the corresponding quarter of 2022 were a loss of 153 million euros.

According to Tui, higher prices and more bookings contributed to the boost in results. In the first quarter, Tui had a total of 3.5 million passengers, compared to 3.3 million passengers in the same quarter last year.

Furthermore, Tui's board recommended that the company's shareholders vote for a delisting on the London Stock Exchange in order to focus entirely on the listing in Frankfurt instead.

At around 11.25 a.m., Tui was up around 3 percent in both Frankfurt and London.

Source: Nyhetsbyrån Direkt