Kuoni Travel reports £3.28m loss

Kuoni Travel has reported a loss of £3.28m for 2014, a 28% reduction on the previous year's £4.56m loss.

Kuoni's Derek Jones
Kuoni's Derek Jones

According to accounts filed at Companies House, the company's turnover also reduced, from £293m in 2013 to £286m in 2014.

Kuoni Travel, which exited the tour operating industry to focus on being a service provider to the global travel industry earlier this year, blamed political instability in Thailand and Africa for the fall in revenue. 

In the director's report, Derek Jones, managing director of Kuoni UK Group at REWE, said reduced amortisation and impaired goodwill has contributed to the loss. 

"Our 2014 results pre-date the acquisition of Kuoni UK Group by REWE Group, and we are looking forward to taking the business forward under new ownership," he added. 

More:

Kuoni focuses on business travel in restructure 

Business travel trends moving towards personalisation, says research 

AddingValue sees 33% rise in pre-tax profit

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