Thomas Cook bills 2,700 million in its fiscal third quarter, almost 10% more

Thomas Cook invoiced 2,479 million pounds sterling (2,779.2 million euros) in its fiscal third quarter, which ended on June 30, 9.9% more than in the same period of the previous year, when it reached revenues of 2,256 million pounds sterling (2,529.2 million euros), the company said in a statement.

The gross profit of the tour operator reached 443 million pounds sterling (496.6 million euros), 3.2% less than the 458 million pounds sterling (513.4 million euros) of the previous year.

The British tour operator recorded a net operating profit (Ebit) of 14 million pounds sterling (15.7 million euros) during its third quarter, 7.6% more than the previous year.

The travel company’s debt increased to 468 million pounds sterling (524.7 million euros), compared to 404 million pounds sterling (452.9 million euros) of debt registered in the third fiscal quarter of 2017 .

GROWTH IN TURKEY AND EGYPT

Thomas Coook has positively highlighted the growth of the popularity of destinations such as Egypt or Turkey, although they have not fully compensated for the “pressure on margins in Spain”.

The company has recorded an 11% increase in reserves for this summer compared to the previous one, “fueled by strong growth in the airline of the group, in line with the increase in planned capacity, especially in Germany,” he said. the CEO, Peter Fankhauser.

On the other hand, the group highlights that the growth of reserves was negatively affected by the period of heat that has settled in Europe during June and July, which has delayed the reservations of customers.

However, the company is confident that the business strategy they are developing will put it in a better position and get a good season in the summer of 2019