The first six months of the 2009 business year were dramatically affected by a number of negative external influences for the Kuoni Group.
The global financial and economic crisis, significantly adverse currency movements and the first effects of the swine flu all depressed the first-half results.
Turnover for the period totalled CHF 1 760 million, down 21.0 %. Underlying earnings before interest and taxes (underlying EBIT 1) fell to CHF -40.7 million.
The net result amounted to CHF -51.0 million.
With deep economic recession, the continuing reluctance to spend among consumers and negative currency movements, results were down on their prior-year levels in all Kuoni markets.
However, booking trends for the second half of 2009 suggest a slight improvement in general consumer demand.
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