Q3 15 group revenues grew by 0.2% LFL (-12% reported), hit by FX moves and a later booking profile (in Germany in particular) and weaker demand, as already highlighted in H1 15. Summer 2015 trends were impacted by terrorist events in Tunisia and macro issues in Greece and came below our expectations with a respective 1% and 3% slip in bookings in the UK and Continental Europe, while pricing power remained low in these regions (-1% in rates in the UK, flat in CE). Northern Europe was better (f
22 Sep 2015
Poor outlook in Germany impacts performance
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Poor outlook in Germany impacts performance
Thomas Cook Group (TCG:LON) | 0 0 0.3% | Mkt Cap: 1,871m
- Published:
22 Sep 2015 -
Author:
Bérénice Lacroix -
Pages:
3
Q3 15 group revenues grew by 0.2% LFL (-12% reported), hit by FX moves and a later booking profile (in Germany in particular) and weaker demand, as already highlighted in H1 15. Summer 2015 trends were impacted by terrorist events in Tunisia and macro issues in Greece and came below our expectations with a respective 1% and 3% slip in bookings in the UK and Continental Europe, while pricing power remained low in these regions (-1% in rates in the UK, flat in CE). Northern Europe was better (f