Kuoni Holidays UK has witnessed its third quarter profits decrease by almost 44% to £3.6 million, down from £6.5 million in 2006.
The 44% slump, before interest and tax slump comes despite a 23.8% rise in turnover to £95.5 million.
According to their Swiss parent company Kuoni Group, the holiday company is "still short of its objectives". Kuoni UK, who earlier in the year had had a management shake-up have said in a statement: "The new management installed in summer is currently devising the actions required to bring the unit back onto a successful track."
Despite the losses, Kuoni are optimistic about the future with some encouraging future bookings, which during November were up 14% year on year. Destinations proving popular for Christmas holidays include the Maldives, Thailand and Egypt.
