Monday, 30 November 2009

Thomas Cook shrugs off swine flu impact

Thomas Cook shrugs off swine flu impact
The travel firm Thomas Cook has said despite the swine flu outbreak and the 'staycation' trend its annual profits and revenues saw gains.

Thomas Cook said pre-tax profit was up to 356.1 million in the year to September 30th and revenue for the year rose 5.9 per cent to £9.3 billion.

The firm said its financial performance was ahead of expectations, against a tough market background, and added that it had seen strong growth in places such as Egypt and Turkey.

Manny Fontenla-Novoa, chief executive officer of Thomas Cook, said looking to 2010 the economic environment remained uncertain, with leisure travel market forecasts 'flat', unemployment predicted to rise, the weak pound and swine flu presenting further tentative market recovery for the tourism industry.

However, the firm added that consumer confidence was improving and 'demand for trusted brands strengthening'.ADNFCR-708-ID-19485578-ADNFCR

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