Thomas Cook Group Plc reported slightly widened losses in the last 9 months, with the swine flu playing a partial role as summer bookings reduced. This has led the group to adjust its 2010 profit ambitions to more realistic figures.
Thomas Cook, Europe’s second largest travel operator, reported a net loss of 175.6 million pounds in the nine months ending June 30.The figure stood at 174 million pounds last year. The company is said to have lost 12.6 million pounds after travelers were advised not t travel to Mexico amidst scares of swine flu.
In London, Thomas Cook shares went down by 5% and the group has decided to scrap its target of reaching an operating profit of 480 million pounds in 2010.
While revenue went up 11% to reach 5.85 billion pounds, the loss from operations reduced by 43% to 49.5 million pounds.
Even though the group is preparing for tough market conditions ahead, it is still targeting further improvements in its earnings and margins.
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