TUI Travel Posts Higher FY12 Profit

TUI Travel PLC TUIVY reported an increase in its FY12 pretax profit. TUI Travel's pretax profit for the year rose to 201 million pounds, from GBP144 million, in the year-earlier period. Its adjusted pretax profit surged to GBP390 million from GBP360 million, while revenue dropped to GBP14.46 billion from GBP14.69 billion. Its operating profit climbed to GBP301 million from GBP255 million, while adjusted basic earnings per share rose to 25.8 pence from 23.6 pence.