Tui boss: 'Strong demand for all-inclusive holidays'
Travel company Tui, which owns Thomson and First Choice, has seen profits slip due to weak French sales and a restructuring in its specialist and activity division.
Pre-tax profit for the year was £181m, down 10% on a year earlier, while revenue rose 4% to £15.1bn. However, excluding one-off costs, pre-tax profit rose 21%.
Chief executive Peter Long spoke to BBC Breakfast's Steph McGovern and said Tui was very mindful of the growing cost of living.
"What is particularly a strong demand is the all-inclusive holidays, where you have complete peace of mind because everything is included, and that enables our customers to budget more easily and effectively."