Thomas Cook summer bookings down 5pc on Turkey slump
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.