Kuoni UK has reported a 43.8% drop in profits before interest and tax despite a 23.8% growth in turnover this year in its third quarter figures.
Results released today show the operator’s UK wing has increased its turnover to £91.3 million in the first nine months of 2007 from £73.8 million in the same period last year. However, profits have dropped from £6.3 million in the same period last year to £3.5 million this year.
A spokesman said the new management installed this summer is currently devising the actions to bring the UK business back onto a successful track.
Meanwhile the group as a whole has fared better with gross profits up by 16.5% from £278.5 million in the first three quarters last year to £324.4 million this year. This is following a 14.8% increase in turnover, from £1,312.5 million last year to £1,506.7 million this year.
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