Kuoni upbeat about profits
Switzerland's largest travel group, Kuoni, is forecasting record profits for this year and turnover of more than SFr4 billion ($2.27 billion).
Kuoni said on Tuesday that nine-month sales were up by 19.1 per cent to SFr3.06 billion and that group profits rose by 38.8 per cent to SFr97.3 million.
A statement said the increase in turnover was due both to acquisitions and to internal growth, with currency fluctuations having only a negligible effect.
Kuoni last month announced plans for a major shake-up. The Zurich-based group said it would no longer be organised according to geographical regions, but according to its activities.
However, the accounting system is to remain the same to facilitate comparisons with previous years’ performances.
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