Group revenue was reported at £9,007 million, up 9% on a like-for-like basis (adjusted for foreign exchange), while underling Ebit (earnings before interest and taxes) was up £24 million to £330 million for the 12 months ended September 30.
But while having traded strongly in the first half, Cook’s UK tour operating business experienced “challenging conditions” in the second half of the year.
A combination of hotel price inflation, weaker sterling and increased air capacity made the market for holidays to Spain more competitive than in previous years, Cook said, putting pressure on costs and selling prices.
