Thomas Cook: shares fall ahead of 'challenging' summer

(CercleFinance.com) - Britain's Thomas Cook posted a higher first-quarter loss on Thursday, and forecast "challenging" trading for the summer of 2019, which led to its shares tumbling over 15%.


In the six months to 31 March, the travel company saw its pre-tax loss widen to 1.45 billion pounds, from a loss of just 303 million pounds a year earlier.

Revenue of 3 billion pounds was in line with its level last year.

For the coming summer, the season when holiday companies make the majority of their profits, Thomas Cook said recent economic and political uncertainty has led to "high levels of promotional activity."

This trend, along with higher fuel and hotel costs, will impact progress on full-year 2019 operating results, it warned.

Unsurprisingly, the shares were din a spin - falling 15.3% to under 19.5 pounds after these announcements.

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