Thomas Cook confident despite weak UK market
Thomas Cook Group said it was confident of making progress this year, despite a weak UK consumer environment and the impact of political unrest in the Middle East and North Africa.
Pretax loss for the six-month period widened to £269.4 million from £252.2 million a year ago, but revenue for the six months to March 31 climbed 3.7% to £3.43 billion.
The operator said the revenue improvement was down to higher prices and a rise in the number of people booking more expensive trips.
"We have responded to the challenges of political unrest in MENA and the weak UK consumer environment by redirecting our flying programme, cutting costs and continue to focus on our strategic priorities," said chief executive Manny Fontenla-Novoa.
"Whilst results in our UK business are likely to be below last year’s levels and the MENA situation remains uncertain, our Continental and Northern European businesses are performing well and summer booking levels are encouraging."
TC said political unrest in North Africa and the Middle East led to a rise in half-year operating losses of £36 million to £166 million.
It also took a £15 million hit from the later timing of Easter.
European online sales were up 10%.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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