Tui Travel delivers extra dividend as a result of merger with TUI AG

Peter Long, Chief Executive of TUI Travel PLC, commented:

"We have delivered another year of out-performance against our growth roadmap achieving an underlying operating profit growth of 11% at constant currency rates². This demonstrates the strength and resilience of our business model in what has been a competitive trading environment for many tour operators and airlines. The combination of our market leadership position, scale, focuson unique holidays distributed increasingly online and our relationship with the customer throughout their whole holiday experience continues to provide a strong basis for sustainable, profitable growth.

"The merger with TUI AG will strengthen and future-proof our combined Group. It will also enhance the certainty of long-term unique holiday growth and reinforce our clear competitive advantage through further control over the end-to-end customer experience. This will mark the start of an exciting new phase of growth, delivering significant opportunities and value to customers, employees and shareholders."

Key financials

¹ Underlying operating profit excludes separately disclosed items, acquisition related expenses, impairment of goodwill and financial assets and interest and taxation of results of the Group's joint ventures and associates

² Constantcurrency basis assumes that constant foreign exchange translation rates are applied to the underlying operating result at prior year rates

³ Comparative figures for the year ended 30 September 2013 have been restated to reflect the adoption of revised IAS 19 'Employee benefits'

⁴ Dividend of 20.5p payable on completion of the merger. This includes 10.5p in lieu of a final dividend