Kuoni profits surge 1,350%
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Kuoni Group posted is results for the fiscal year 2010-11, with net profits surging 1,350% year-on-year from CHF1.6 million to CHF23.2 million (US$1.8 million to US$25.7 million). The Swiss tour operator’s revenues increased 2.3% to CHF3.98 billion, while pre-tax profits jumped 287% to CHF58.4 million. In Asia, Kuoni reported a 63% increase in operating profits, which rose to CHF42.2 million on the back of an 18.5% rise in regional revenues, which totalled CHF316 million. Kuoni cited Asia as one of its most important sources of earnings, along with Scandinavia, and Kuoni Destination Management.
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