TUI to rush out earnings data

3rd August 2004, Comments 0 comments

3 August 2004 , HANOVER - TUI, the German holidays and transport group, is to rush out its second-quarter figures this Thursday, a week ahead of schedule, as rumours swirl through the stockmarket that it faces a takeover bid. A spokeswoman at company headquarters in Hanover said Tuesday both the sales and earnings figures would be available in advance. She said the move was in response to the speculation. The full accumulated first-half results would be issued 12 August as originally planned, she said. TUI

3 August 2004

HANOVER - TUI, the German holidays and transport group, is to rush out its second-quarter figures this Thursday, a week ahead of schedule, as rumours swirl through the stockmarket that it faces a takeover bid.

A spokeswoman at company headquarters in Hanover said Tuesday both the sales and earnings figures would be available in advance. She said the move was in response to the speculation.

The full accumulated first-half results would be issued 12 August as originally planned, she said.

TUI, which figures on the DAX index of Germany's top 30 stocks, was trading 0.75 percent higher at EUR 14.83 in Frankfurt electronic trading on Tuesday morning.

Analysts say the stock has been hit hard by a decline in holiday spending although most of its underlying business, including worldwide shipping, is highly profitable. That would make the stock attractive to asset strippers, who could buy the company and then sell its assets individually for more than the initial outlay.

DPA

Subject: German news

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