Thomas Cook hit by slump in German bookings
Thomas Cook group has said its prospects for the 2001/2002 financial year have “taken a downturn.”
The group, which today released its results for the first half of the year to April 30, said that while the UK business is meeting its targets, the terrorist attack on Djerba had led to a downturn in bookings in Germany. This had forced it to change its earlier assessment that sales would only be marginally down or even at the same level as last year.
As at the end of June the group’s bookings, measured in tour operator sales volume, were down by 11.1% year-on-year.
Thomas Cook said that the second quarter of the year had been “affected severely” by the events of September 11, continuing the trend from the previous three months. If figures for Thomas Cook UK are excluded to allow a like-for-like comparison with the same period last year, 2.5 million guests were reported during the first six months of the year, 14.3% less than the year before. However this is an improvement on the first quarter’s figures which had seen a decline of 21%.
Excluding Thomas Cook UK, turnover fell by 9.3% to 1.7 billion euro. Including Thomas Cook UK, turnover rose to 2.6 billion euro in the first six months, up 39% on the previous year.
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