Thomas Cook Group Plc (TCG.L) issued pre-close trading update.
Sam Weihagen, Group chief executive officer, stated, "Trading across the Group has been stable since we last reported and in line with expectations. In the last few weeks we have seen an improvement in UK booking trends, helped by our recently launched advertising campaign and upgrades to our thomascook.com website."
The company stated that the winter season 11/12 overall remains subdued, but bookings have improved in recent weeks.
With regard to summer 12, bookings are tracking capacity in the UK and in Central Europe, despite the difficult market backdrop, but are slower than expected in Northern Europe and West & East Europe where the company retains the flexibility to reduce capacity should demand not pick up.
Looking forward, Thomas Cook stated that it continues to expect 2011/12 to be a challenging year given the economic backdrop and difficult trading environment, particularly for winter. The trends which it saw in the first quarter have continued through the second quarter, but summer trading is more encouraging, the company added.
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