LONDON (Reuters) - British travel group TUI Travel (L:TT), reporting its last set of annual results before it merges with Germany's TUI AG (De:TUIGn), said profit rose 11 percent, beating forecasts, and the coming tie-up would accelerate long-term growth.
Underlying operating profit for the year ended September came in at 654 million pounds on a constant currency basis, compared to a company-supplied analyst consensus forecast of 640 million pounds.
TUI in October said that operating profit would rise by at least 9 percent, the upper end of its previous guidance for growth of between 7 percent and 10 percent.
In September, the company and its German part-owner TUI AG reached an agreement on the terms of a 6.5 billion euro merger to create the world's largest leisure tourism group and the tie-up is due to formally complete later this month.
"The merger with TUI AG will strengthen and future-proof our combined Group," TUI Travel's chief executive Peter Long said in a statement.
(Reporting by Sarah Young; Editing by Karolin Schaps)