Company Diary: TUI, Aviva

Our regular look at the FTSE 350 and other companies reporting from 10 August – 14 August 2026

• TUI faces key summer bookings test
• Aviva has the momentum but faces a mixed insurance backdrop.

TUI – Q3 results, Wednesday 12 August

Derren Nathan, head of equity analysis, Hargreaves Lansdown: “TUI’s [LON:TUI] third-quarter numbers are being published, smack in the middle of its key summer holiday season. The group has been pulling on its operational levers as hard as it can with efficiency improvements in the Markets + Airline division, helping to offset some of the cost impact of the Middle East conflict. However, demand is also suffering, with summer bookings in the division down 7% at the last check. With the war still rumbling on, analysts will be keeping an eye out for any movement in that figure, and whether it points to a genuine softening in holiday appetite or a shift towards later bookings.

The uncertainty has seen management pull revenue guidance and issue a fairly wide range, between €1.1-€1.4bn, for full-year underlying operating profit. Forecasts are veering towards the upper end of that range, with €0.3bn expected in next week’s results. But with the majority of profits set to be delivered in the fourth quarter, the key section to watch will be the outlook.”

Aviva – Half year results, Friday 14 August

Matt Britzman, senior equity analyst, Hargreaves Lansdown: “Aviva LON:AV. heads into half-year results with good underlying momentum, but against a mixed insurance backdrop. Wealth led the first-quarter, supported by Workplace and Platform flows, while Canadian general insurance profitability improved sharply. UK personal lines were stable, but commercial insurance is softening, and claims inflation remains a risk. Investors should therefore focus on pricing discipline and underwriting margins rather than premium growth alone. Elsewhere, Aviva remains selective in bulk annuities, prioritising returns over market share, while the expanding Wealth and Health businesses offer less capital-intensive routes to growth.

Direct Line will be the bigger test. Early integration progress has been encouraging, with Aviva moving quickly to improve pricing, expand distribution through comparison websites and deliver capital benefits. The acquisition also creates a sizeable cross-selling opportunity across Aviva’s broad customer base, which should support retention and underlying growth. The solvency ratio is expected to recover as further Direct Line benefits come through; that’s important for rebuilding flexibility around dividends and buybacks.”

A director of Hargreaves Lansdown Group Limited is a Non-Executive Director at Aviva.

This article has been brought to you in association with Hargreaves Lansdown. All opinions expressed in this article are from the analysts and do not necessarily represent the opinions of The Armchair Trader.

FTSE 100, FTSE 250 and selected other companies scheduled to report