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Thomas Cook: Pre-close trading update: Sep-2013

27-Sep-2013 9:40 AM

Thomas Cook released (26-Sep-2013) its pre-close trading update and said its FY2013 results are expected to be in line with market expectations. The company said its summer trading continues to be in line with expectations and is now over 95% sold. Across the Group as a whole, bookings outperformed planned capacity management by over 4%. The company's UK capacity is over 97% sold with bookings down 3% on 2012 with a capacity reduction of 2.5%. The company expects the UK will match its expectations with a year-on-year increase in average sales prices of over 4.5%. The company's Continental Europe bookings are flat year-on-year despite capacity reductions of approximately 10% with average sales prices increasing by 1%. Capacity left to sell is 15% lower year-on-year. Northern Europe bookings are 1% below 2012 but with growth in average selling prices of approximately 4%. German bookings and average selling prices are both up around 3% compared to 2012. Thomas Cook plans to announce its results for the year ended 30-Sep-2013 on 28-Nov-2013. [more - original PR]