Figures in line with expectations but overcapacity in Spanish island resorts reduce visibility Thomas Cook started the FY16/17 year by reporting sales growth in line with our expectations. Sales were up 1%, fuelled by holidays to Greece, Spain and long-haul destinations. Own-brand hotels (10 new hotels due to be open for the Summer 17) and the selected partner strategy contributed to the +10bp improvement in the gross margin (+22.1%) with the seasonal EBIT loss reducing slightly yoy (by &poun
09 Feb 2017
Cautious stance for 2017 despite positive Q1
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Cautious stance for 2017 despite positive Q1
Thomas Cook Group (TCG:LON) | 0 0 0.3% | Mkt Cap: 1,871m
- Published:
09 Feb 2017 -
Author:
Bérénice Lacroix -
Pages:
3
Figures in line with expectations but overcapacity in Spanish island resorts reduce visibility Thomas Cook started the FY16/17 year by reporting sales growth in line with our expectations. Sales were up 1%, fuelled by holidays to Greece, Spain and long-haul destinations. Own-brand hotels (10 new hotels due to be open for the Summer 17) and the selected partner strategy contributed to the +10bp improvement in the gross margin (+22.1%) with the seasonal EBIT loss reducing slightly yoy (by &poun