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1-Apr-2015 7:49 AM

Thomas Cook Group: Trading 'in line with management's expectations'

Thomas Cook Group reported (31-Mar-2015) it is trading "in line with management's expectations", with winter 2014/2015 almost fully sold and the summer 2015 season more than 50% sold. Thomas Cook Group CEO Peter Fankhauser said: "Our bookings for the full year are developing well, especially in the UK and Airlines Germany. The tough trading conditions we reported previously in some markets are showing early signs of improvement, and our New Product and Winter Sun initiatives are leading to growth. I am confident that, by continuing to rigorously implement our strategy, we will further improve business performance." Thomas Cook Group stated: "Although conditions remain tough in many of our markets, with pricing pressures caused by excess airline capacity and intense competition, trading in Continental Europe and Northern Europe is improving while the UK business continues to perform well." The company expects "further growth" for FY2015 on a constant currency basis. [more - original PR]

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