Friday 31 March 2017

Thomas Cook summer bookings down 5pc on Turkey slump

Thomas Cook
Thomas Cook

Paul Sandle

British holiday company Thomas Cook said its summer bookings were down 5pc as tourists shunned Turkey, its second-most popular destination last year, leading to a lower forecast for full-year earnings.

The group said revenue for its first half grew slightly to £2.67bn, and its underlying operating loss improved by 5pc to £163m thanks to the positive impact of selling higher quality holidays on its margins.

Thomas Cook said it expected underlying operating profit for the year to be between £310m and £335m, towards the bottom of analysts' forecasts of £310m to £359m.

It said it continued to expect to pay a dividend in respect of the current year's earnings.

Reuters

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