Struggling package tour operator Thomas Cook made an underlying profit before tax of £175m in the year to the end of September, down from £248m the year before. The market had been expecting profits of £168.5m.
Revenue rose to £9.8bn, versus market forecasts of £9.2bn, from£8.9bn last year. Exceptional charges of £573m resulted in a statutory loss before tax of £398m, versus last year's profit of £42m. Crucially, the company said that, despite its well-publicised problems with its refinancing, customers are continuing to book holidays with the company.
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