Thomas Cook's annual profits jump
Monday, 30 November 2009 13:16Thomas Cook Group, Europe's second-biggest travel operator, said today that its annual net profits leapt to £15.8m sterling despite the recession.
Net profits jumped 46% in the 12 months to the end of September, compared with the previous fiscal year, Thomas Cook said. Revenues climbed 5.9% to £9.29 billion.
'We have delivered a strong performance in 2009 achieving full-year results ahead of market expectations,' Thomas Cook's CEO Manny Fontenla-Novoa said.
'This is particularly pleasing as it comes despite the worldwide recession and the financial impact of the swine flu outbreak,' he added.
Thomas Cook Group was formed from the 2007 merger of Thomas Cook and British rival MyTravel.
'Looking ahead, the late booking trend is still evident but our winter 2009/2010 trading position continues to improve and trend towards our planned capacity,' commented Fontenla-Novoa.
'Recent customer research shows that UK consumers remain intent on taking their holidays abroad next summer and we continue to see strong growth in bookings to medium haul destinations such as Turkey and Egypt,' the company added.
