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TUI Group fiscal Q3 profit climbs 128.9% YOY

TUI AG said its normalized net income for the fiscal third quarter ended June 30 came to 17 euro cents per share, a gain of 125.7% from 8 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €102.9 million, an increase of 128.9% from €44.9 million in the prior-year period.

The normalized profit margin rose to 2.2% from 1.1% in the year-earlier period.

Total revenue climbed 12.6% on an annual basis to €4.78 billion from €4.24 billion, and total operating expenses increased 11.9% year over year to €4.64 billion from €4.14 billion.

Reported net income increased 144.0% year over year to €136.4 million, or 23 cents per share, from €55.9 million, or 10 cents per share.