Tour operator TUI Travel Plc (TT.L) reported that loss attributable to equity holders of the parent for the six-month period ended 31 March 2013 narrowed to 261 million pounds from the previous year's 288 million pounds, with loss per share narrowing to 23.6 pence from 26.0 pence in the prior year period.
Loss before tax also narrowed to 404 million pounds from the prior year's 457 million pounds.
The Group's underlying operating loss narrowed to 289 million pounds from 317 million pounds last year. However, this included a 15 million pounds impact from empty leg accounting. On an underlying basis, excluding the impact from empty leg accounting, underlying operating loss reduced by 43 million pounds to 274 million pounds.
Revenue for the period declined to 5.397 billion pounds from last year's 5.447 billion pounds. This result was driven by a foreign currency translation impact of -1%. Organic revenue growth over the period was flat overall versus the prior year.
The company noted that its board recommended an interim dividend per ordinary share of 3.75 pence, compared to 3.40 pence paid in first-half period of last year, payable to holders of relevant shares on the register at 6 September 2013. This will be paid on 4 October 2013.
The company said it is confident that its strategy is driving performance and based on current trading it expects to report underlying profit growth of at least 10% on a constant currency basis for the 2013 financial year.
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