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The Kuoni Group reports a substantial increase in earnings for the first nine months of 2010. Earnings before interest and taxes (EBIT) for the period amounted to CHF 31 million. Underlying EBIT stood at CHF 80.6 million, a CHF 46.9 million improvement on the prior-year period. Turnover for the period totalled CHF 3 019 million (up 1.4 %). The net result amounted to CHF 12.3 million.
The increase in earnings is attributable to the improved economic environment and higher margins. The Kuoni Group’s Scandinavian, Asian and Destination Management operations made particularly strong contributions to the higher earnings achieved. Turnover for the third-quarter period amounted to CHF 1 263 million, while underlying EBIT stood at CHF 82.4 million. The Kuoni Group still expects to post a low singledigit percentage increase in turnover for 2010 as a whole, along with an underlying EBIT margin of close to 3 %.
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