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24 Sep 2018

BY Rob Gill

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TRFBLI

Cook shares plunge after issuing profit warning

Thomas Cook Group’s shares plunged by more than 25% after the tour operator issued a profit warning.

Peter Fankhauser 2017

The company blamed the summer heatwave for a reduction in annual profit from a previously forecast £323 million to £280 million for the year ending on September 30.

 

The trading update sent Cook’s shares falling by up to 25.9% from 78p to as low as 58p in early trading on the London Stock Exchange.

 

Cook had been due to release its pre-close trading update on Tuesday but brought the announcement forward by one day in line with stock market rules.

 

Chief executive Peter Fankhauser said a “prolonged period of hot weather across Europe” had discouraged consumers from booking holidays in June and July leading to “higher than usual” levels of discounting in August.

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TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: New Bridge Street House, 30-34 New Bridge Street, London EC4V 6BJ
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