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Analysts predict Thomas Cook profits to fall

Operators
Jennifer Morris
21 November 2016

Thomas Cook is reportedly set to announce a fall in profits in its full-year results this week, after a string of terrorist attacks affected some of its key destinations.

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Mail On Sunday reported that the tour operator is expected to say that a buoyant Spanish market, currency hedging and the strength of the euro for its continental clients have helped it through the year.

The newspaper quoted an industry source as saying: “It’s been a really difficult year for Thomas Cook.

“Tunisia is still effectively shut to British tourists, as is Sharm el Sheikh – though Thomas Cook does fly elsewhere in Egypt.

“Turkey, where it was market leader, has had repeated problems.”

Analysts predict the company will record sales of £7.9 billion in the year to September 30, up from £7.8 billion the previous year.