Kuoni reports record net result

Kuoni has reported a record net profit of £66.4 million on turnover growth of 15.1% in its 2007 annual results.

The profit, a 17% increase on 2006, is the highest ever recorded by the group. The growth saw the tour operator’s turnover increase from £1.9 billion to £2.3 billion for the year to December 31, 2007.

In the UK, the company said it has halted the decline in turnover, thanks in part to the acquisition of CV Travel. It reported turnover in its UK business had improved from £338 million to £372 million in 2007.

The company put the stonrg set of results in part down to an “favourable overall economic climate” last year and said it was “cautiously optimistic” about the rest of this year.

The board of directors has now proposed to hold the annual general meeting for shareholders on April 18.

The operator also reported a 12% increase in groupwide bookings as of March 10 this year following the five acquisitions made by the group in 2007. However, within this UK bookings are 6% down compared to Scandinavia, where bookings are 41% up, Switzerland (8% up), France (12% up) and India (27% up).

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