logo
Share SHARE
FONT-SIZE Plus   Neg

Thomas Cook Continues To Expect 2011/12 To Be A Challenging Year - Quick Facts

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
comments powered by Disqus
Follow RTT