Thomas Cook sees losses narrow as revenue increases

Thomas Cook has reported strong financial figures for the first half of financial 2015, with the travel agent revealing group revenue increased by £37 million to £2,742 million for the period.

Gross margins were maintained at 21.3 per cent, as improved yield management and cost efficiencies compensated for continued competitive pressures.

However, underlying EBIT improved by £18 million to a £173 million loss, excluding a £5 million benefit from Easter falling earlier this year.

Peter Fankhauser, chief executive of Thomas Cook commented: “Overall the group has made positive progress during the first half. 

“Thanks to the actions we have taken, both profits and like-for-like revenues have grown, and debt has been further reduced. Read More 21/05/2015 Breaking Travel News