Thomas Cook says UK bookings recovering

published 14 December 2011

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.

"Bookings outside the UK were broadly unaffected by news of our refinancing and in the UK bookings have recovered well," said Sam Weihagen, group chief executive of Thomas Cook.