Shares of UK's Largest Travel Company Suffered Contrasting Fortunes
A slower trading in summer has been experienced by Thomas Cook this year as compared to last year. This was concluded according to a forecast. The results of whole year were expected to be in line with the expectations
Its shares were the second largest faller on the FTSE 250. The shares were dropped almost by 7% to 145p. This happened when the travel firm said that the UK summer bookings were dropped by 3% on the year. Also, continental sales were flat and northern European sales were decreased by 1% in spite of regular selling price being increased in each segment that was reported.
The late bookings slowed the decrease in trade as compared to that of the previous year. This was due to the bad climate around much of Europe.
The winter dealings had started more slowly across most of the markets. This was due to warm weather across Europe and recent difficulties in Egypt, said Thomas Cook. However, the company assumed that the wider range of routes and packages offered by them would help them in achieving their targets.
Chief executive Peter Long said that they are very pleased with the business during the summer 2013 high season.
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