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Thomas Cook reports profit rise
Tuesday 2nd December 2008, 11:03AM GMT.
Thomas Cook has today reported a 32 per cent rise in pre-tax profits for the year.
The company was formed last year after the merger of Thomas Cook and My Travel.
The firm claimed it had profited from the job cuts and the collapse of rivals such as XL Leisure.
Profits in the travel company rose to £309.3 million in the 12 months to September 30th, up from £234.4 million the previous year.
It claims its target for operating profit in 2009/10 is £480 million.
“Recent consumer research, and the high load factors we are currently experiencing, give us confidence that consumers remain intent on taking their holidays,” chief executive of Thomas Cook Group, Manny Fontenla-Novoa, said.
“We believe our strong financial position, together with the increased synergy savings and contingency measures we have put in place, will enable us to sustain a market-leading performance throughout a challenging 2009.”
Thomas Cook claims that over the last two years, the total number of package holidays available in the UK had been cut by about 25 per cent.
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