Shares in travel company Thomas Cook (LON:TCG) soared nearly 10 percent this morning after the release of impressive full year results.
Group revenue was up 1.1 percent to £7,834 million, with underlying earnings before tax up 11 percent to £310 million. The stronger balance sheet was helped by a profit increase of £9 million.
Peter Fankhauser, Chief Executive of Thomas Cook commented on the results:
“2015 has been a year of real progress as good trading combined with rigorous cost control to deliver our first positive profit after tax in five years. Despite turbulence in some of our destinations, the underlying business performed in line with our plans at the start of the year, demonstrating its greater resilience.
“Looking across the Group, the UK continued to strengthen as a better quality holiday offering and other business improvements delivered a 42% increase in underlying operating profit.
Travel companies have had a strong quarter, with airlines such as Easyjet and Ryanair also producing good results. Thomas Cook is another example of strength within the tourism sector, despite the increased security alerts throughout Europe which may well have an impact on results in the future.
Thomas Cook is currently trading up 9 percent at 107.20 pence per share.
25/11/2015
