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Thomas Cook ‘in good stead’ for lates market
Thomas Cook has described trading for this summer as being strong across its main markets.
A statement to coincide with the group’s agm today said: “In the UK, capacity is currently 10% lower. We currently have 19% fewer holidays to sell than at this time last year, which should stand us in good stead in the lates market.
“We are particularly encouraged by our much lower level of stock left to sell in short haul and long haul. Average selling prices are currently 2% ahead.â€
For winter 2007-08, UK capacity is now 5% below last year and bookings are in line with capacity, down 5%. Average selling prices and margins continue to be ahead of the prior year, the company said.
Overall, as the group enters its close period, the board said it was confident that the business will meet its expectations for the current financial year.
Group chief executive Manny Fontenla-Novoa said: “We have successfully and swiftly integrated our predecessor businesses, reported increased profits for 2006/07, entered the FTSE 100 index and made a number of key strategic acquisitions.
“Over the past twelve months we have laid strong foundations for future growth. I am satisfied with our current trading and am confident in our strategy to grow the business.â€
by Phil Davies
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