Kuoni reports drop off in sales revenue

Kuoni reports drop off in sales revenue

Kuoni UK has reported an 11% drop in turnover ahead of its annual general meeting today.

The UK bookings are 11% down in pound sterling for April 12 compared to last year, which translates as 32% down in Swiss franc terms.

In a statement, Kuoni said bookings were "severely depressed" by negative currency movements.

The Kuoni Group saw an overall drop in turnover of 23% for the period - a slight improvement on figures released in mid March. The company attributed the improvement to the late booking trend.

Shareholders of Kuoni Travel Holding Ltd. will be asked to approve the re-election of the chairman of the board of directors Henning Boysen. Board member David J. Schnell is also standing for re-election. Both board members would be elected to serve for a three-year term.


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