Thomas Cook shares edge up on CEO’s confidence for 2019

Thomas Cook shares edge up on CEO’s confidence for 2019

Thomas Cook shares have taken a strong turn on Wednesday after the group’s chief executive expressed confidence about the coming year.

The travel company has issued three profit warnings this year after the unusually hot summer hit holiday bookings.

Today saw shares increase by over 15% after a turbulent year where the share price has tumbled from 117p this time last year to a low of 22p earlier this month.

The Thomas Cook chief executive Phil Gardner has said that bookings are looking more promising for 2019.

“We have a strategy we believe in, we just haven’t been quick enough at executing it,” he said.

“The latest market hit us this year. We need to be stronger in managing our commitments and have already made changes in that area. We also need to be faster at executing our strategy around our own-branded product. We’ve had a good start for bookings next year, and have confidence in 2019, but need to focus on margin and profit.”

“The best possible margins are on our unique product. It’s also where we give our best customer service and receive our best NPS [net promoter scores]. We didn’t focus enough on it this summer, so we will next year. I need to do that with trade partners and online,” he added.

Shares in the group (LON: TCG) are currently trading +12.57 (1325GMT).