Kuoni Group has reported a significant improvement in its financial results for the first three quarters of 2011. The Swiss travel company achieved net profits of CHF14.7 million (US$16.3 million) for the nine months to 30 September 2011 – 19.5% up year-on-year. The company’s revenue improved 26.2% to CHF3.81 billion, with its Asia division seeing a 21.5% rise in revenues, to CHF289 million.
“In an environment marked by numerous negative external factors, we are pleased to have posted improved results for the first nine months of the year. They underline the effectiveness of Kuoni Group’s portfolio, with its strong focus on asset-light travel services in the growing FIT business and Asia,” said Kuoni’s CEO, Peter Rothwell.