Thomas Cook earnings guidance broadly in line with market view

September 16, 2014

LONDON, Sept 16 (Reuters) – British holiday operator ThomasCook guided full-year earnings would be in the range of315 million pounds to 335 million pounds, putting it broadly oncourse to meet analyst expectations.

The company said on Tuesday that its operational performancein the 12 months to the end of September would show materialimprovement on last year despite a recent downturn in consumerconfidence in Germany.

For its key summer season, Thomas Cook (Xetra: A0MR3Wnews) said that weakerprices, which it first warned about in May, continued but it hadoffset that impact by speeding up its cost-cutting plan.

Analysts currently expect the company to report earningsbefore interest and tax of 327 million pounds ($530.2 million)in the 12 months to the end of September, according to a ThomsonReuters consensus forecast.

Shares (Frankfurt: DI6.Fnews) in Thomas Cook lost about 3 percent of their value onMonday after the company’s larger rival Tui Travel (LSE: TT.Lnews) agreed amerger with its majority owner TUI AG (Xetra: TUAG00news) , creating theworld’s largest leisure and tourism group with a combined valueof 6.5 billion euros. ($1 = 0.6168 British Pounds) (Reporting by Sarah Young, Editing by Paul Sandle)

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