Travel operator Thomas Cook reports strong summer trading


Travel operator Thomas Cook reports strong summer trading
Brits are still booking their summer holidays despite the credit crunch and sterling slide, Thomas Cook sales figures show.

Thomas Cook said trading for summer 2008 has been strong in its main markets and the company said it is set to enter the season in a very good position.

Winter performance has been in line with expectations, Thomas Cook added.

Bookings are down after the company cut the number of holidays on offer, and Thomas Cook is on track to meet market expectations. Average selling prices and margins continue to be ahead of the prior year.

Manny Fontenla-Novoa, group chief executive of Thomas Cook, said: "We have successfully and swiftly integrated our predecessor businesses, reported increased profits for 2006/07, entered the FTSE 100 index and made a number of key strategic acquisitions.

"I am satisfied with our current trading and am confident in our strategy to grow the business."

The company is continuing with its expansion and is now seeking a Russian tour operator to offer package holidays.

Thomas Cook Group was formed a year ago from a merger of the travel business of Arcandor and UK company MyTravel.

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