The travel operator posted an increase in net profit for the year to the end of September and said it expected further improvement in the current fiscal year.

Europe's largest tour operator TUI on Wednesday reported higher profit in the 2024 financial year and projected further growth next year, albeit at a significantly slower pace than in 2024, initially sending shares lower in early trading.

The German group, which recently ditched its listing on the London stock market to focus solely on Frankfurt, posted a 33% rise in underlying pre-tax earnings to 1.3bn euros (£1.1bn)

The travel operator guided for a lower rate of growth in the current fiscal year, despite posting a jump in profit for fiscal 2024 on strong demand.

Shares in Tui fell on Wednesday despite full-year profit rising by a third on strong demand for its wide-ranging travel offering.

The tour operator said underlying earnings before interest and taxation (EBIT) climbed 33 per cent to €1.3bn in the year to September 30, up from €977m a year earlier

German travel group TUI has continued its recovery from pandemic lows, posting a net profit of €507 million ($533 million) on Wednesday for the financial year ending in September. This marks a nearly two-thirds increase compared to the previous year,

Tui sees earnings surge by a third, but growth set to slow - The travel giant posted a 33% rise in underlying pre-tax earnings to 1.3 billion euros (£1.1 billion) in the year to September 30.