Thomas Cook remains confident
Travel firm Thomas Cook said it remains confident of meeting full year expectations, providing fuel costs and the exchange rate does not get worse.
"Despite the higher cost of fuel and the translation impact of the weakening Sterling, and assuming no further deterioration in the Sterling:Euro exchange rate, the board remains confident that the business will meet its expectations for the current financial year," it said.
Group pro forma revenue for the 6 months to 31 March 2008 rose 5% to €4.32bn.
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The group said trading for summer 2008 continues to be strong in all major markets with robust consumer demand. In the UK, capacity is currently 10% lower and in Northern Europe capacity is up only 2%. Average selling prices are 9% ahead.
For Winter 08/09 season, UK bookings are currently 4% ahead of the prior year with Northern Europe bookings 11% higher.
"I'm delighted with our performance over the winter and we are in a very good position for the summer. The rising cost of fuel and translational impact of the fall in Sterling against the Euro have made achievement of our Euro-denominated results more difficult, but I remain confident that we will achieve our goals for this year," said the group.
