Analyst Wyn Ellis, from broker Numis, has told clients that there was a “significant risk” the travel giant would give another warning about its profits when it reports its third-quarter results on Thursday.
The tour operator said in May that it expected to generate adjusted pre-tax earnings of between £310 million and £335 million, which was down from the group’s earlier estimate of up to £359 million.
In a note to investors, Ellis said: “Foreign exchange is likely to benefit Q3 and H2 [up to September 30] on translation, but we are cautious about underlying trading trends and believe any hopes of a good lates market have evaporated.”
City warns 'any hopes of a good lates market have evaporated'
Operators
Sophie Griffiths
25 July 2016
The city is understood to be braced for another profit warning from Thomas Cook this week, as analysts warned that “any hopes of a good lates market had evaporated”.
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