Thomas Cook weighed down by warm weather

0 mins. to read
Thomas Cook weighed down by warm weather
Master Investor Magazine 42 cover

Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

Shares in travel operator Thomas Cook (LON:TCG) sank by 22.74% to 60.15p (as of 14:10 BST) after group bookings for the 2018 summer season were flat in the UK and Continental Europe. The company said that warm domestic weather meant that people put off booking foreign holidays and that, as a result, margins had been tighter in late bookings due to excess supply.

Sales for the winter season are also 2% behind the same point in the prior year, with slower sales in Continental Europe and the Nordic nations. As a result of these developments, full year operating profit forecasts have been downgraded to £280 million.


Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *