TUI’s operations up in third quarter

German tour operator TUI, the world’s largest travel trusteeship, reported better-than-anticipated business earnings in the third quarter of 2003. The breaking news made the company’s high-end stocks close at 16.01 euros for a 1.84 percent gain.

Despite the fact that TUI’s revenues in the third quarter of the ongoing year took a 3 percent slide to 510 million euros compared to the same period of time the year before, the outcomes did stun experts in the sector.

TUI president Michael Frenzel said in Hanover that his company’s results outnumbered last year’s upshots, thus making the business model of integrated tourist trusteeships hold water.

The Germany-based tour operator is still enduring the aftermath of the 9/11 terrorist attacks in the United States. The company’s business volume shrank a walloping 40 percent in the first nine months of 2003 for a meager 301 million euros.

Rising TUI stocks are the result of good-looking forecasts for the last quarter of the year, a whole lot better than the digits posted in 2002.

According to spokespersons from this German trusteeship, these favorable expectations are owed to strong sales registered during the ongoing wintertime season.

The much-anticipated good numbers for the year’s last quarter, though, won’t be made out to a naked eye as a result, among other factors, of weakened business operations during the first quarter of 2003.

TUI stayed in the red during the first half of 2003 with a 199-million-euro shortfall, a reason why –experts assert- the volume of business operations for 2003 will remain somewhat below the 2002 levels.