Thomas Cook's results 'better than expected'

Nov 30 2009 By nebusiness

Travel giant Thomas Cook today said holidaymakers were determined to take their summer break despite the recession as the firm posted better than expected results.

Bookings for next summer are currently on track and the firm expects "continued strong growth" from destinations such as Turkey and Egypt as customers shun Eurozone countries due to the weakness of the pound.

Chief executive Manny Fontenla-Novoa said: "Recent customer research shows that UK holidaymakers remain intent on taking their holidays abroad next summer."

Underlying pre-tax profits came in at £308.2m for the year to September, broadly level with last year despite City predictions of a 3% fall.

Mr Fontenla-Novoa said the results were "particularly pleasing" against the backdrop of recession and the swine flu outbreak, which cost it an estimated £8m in the UK.