28 March 2017 – pre-close trading update
A reassuring trading update has been released. Winter 2016/17 is closing out as expected with bookings at a level similar to last year. Summer bookings are up 10% with strong growth to Greece and smaller European destinations. This leaves full year underlying EBIT guidance maintained. There is some margin pressure but the demand for summer holidays looks strong overall. The shares do not look expensive and we maintain our BUY rating.