Fankhauser, President ever since November, is looking for to get the against a new round of rebuilding after predecessor Harriet Green was also associated with saving the 175-year-old business organisation by reducing fees participating in a ask for tragedy lending in 2011. While conceding that the crisis could also hit its numbers for 2016, chief executive Peter Fankhauser said he was confident that travellers will eventually return to the country.
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Thomas Cook, that have prevailed a…
Cook added: “We have reshaped our holiday offering and flight schedule as a result of recent events in Tunisia”.
The firm noted the foreign exchange translation impact on 2015 profit was expected to be 39 million pounds, up from 25 million previously indicated, following further depreciation of the euro and Swedish krona against sterling.
For the year ending last month, it reported an operating profit of £163m.
Tunisia was one of Thomas Cook’s top sunny destinations, attracting 700,000 customers across Europe every year.
“We nevertheless expect this major disruption, occurring in the midst of the lates summer holiday booking period, will have an impact on sales and margin in the fourth quarter of the year”. Although Thomas Cook had sold the holidays ahead of the crisis and bookings picked up once an agreement was reached, the events led to a higher level of discounting than anticipated.
The impact on earnings is slightly higher than expected, said Stuart Gordon, a senior analyst at Berenberg Bank.
Looking forward, Thomas Cook said summer 2015 is 78% sold, the same as this time previous year.
This has helped the company to better maintain improved prices and margins in the lates market.
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Shares at 0708 GMT trading 1.2% lower at 125 pence.
