The results for the financial year ended September 30 represent the third consecutive year of double-digit earnings growth for the group.

As well as underlying profits, or Ebita (earnings before interest, taxes, depreciation, and amortization) for the group being up 12% (at constant currency) to €1,102 million, turnover was up 11.7%, also on a constant currency basis.

The group expects to deliver at least 10% growth in underlying Ebita in for the full-year 2018, and extends its previous guidance of at least 10% underlying Ebita (compound annual growth rate) to full-year 2020.

Tui described the UK as continuing to deliver a resilient performance “despite the Brexit backdrop”, “in line with expectations”.

It said year-on-year bookings and selling price for winter 2017/18 for the UK reflect a “very strong start in prior year trading” when bookings were up 19% including Marella Cruises, and the impact of currency inflation.

Load factor and percentage of the UK programme sold remain in line with prior year.

For summer 2018, Tui said “as usual for this point in the booking cycle”, only the UK is more than 20% booked.

“We are very pleased with the progress of the UK rebrand, with unaided awareness of the Tui brand performing ahead of our original expectations for this stage," Tui said.

“As expected, although UK demand for holidays abroad remains strong, margins across the package holiday market are normalising, primarily as a result of the weaker pound sterling.

“Nonetheless, our margins remain healthy and we are well positioned competitively.

“Tui is the clear market leader in package holidays in the UK, with a strong net promoter score of 55 in full-year 2017, high levels of direct and online distribution, and a highly integrated and efficient business model.”

Tui added that 56% of its earnings are now delivered from its own hotel and cruise subsidiaries.

Elsewhere, the group encouraged those involved in Brexit negotiations between the UK and the EU “to have a workable solution in place for the airlines, including that current arrangements are extended until such a solution is reached”.

“While we are not able to control the outcome of these negotiations, we are putting contingency plans in place in order to manage potential disruption to our operations,” said Tui.

Meanwhile, Tui said it continues to see strong demand for the Western Mediterranean and Caribbean, “which are already operating at a high level of occupancy and rate”, and expects to see “some improvement in demand for Turkey and North Africa, including from our own source markets”.

Group chief executive, Fritz Joussen, said of the financial results: “Our successful strategic realignment is clearly reflected in our set of results. Thanks to the strong growth of our hotel and cruise brands, Tui now delivers stronger margins and is less seasonal. Our business profile is now much more evenly structured across the entire year.

“The clear focus on investments in high-margin hotels and ships was the core of the strategy for the new Tui following the merger in 2014.

“Customers, shareholders and employees benefit from Tui’s new strategic positioning and financial strength.

“We are investing in new hotels and modern cruise ships. And we pay an attractive dividend to our shareholders. We are seeking to continue this path.”