Newspaper article Manchester Evening News

Summer Heatwave 'Hits Holiday Giant's Profits'

Newspaper article Manchester Evening News

Summer Heatwave 'Hits Holiday Giant's Profits'

Article excerpt

HOLIDAY giant Thomas Cook is expected to lay bare the impact of a European heatwave and a fall in demand for last-minute trips abroad when it unveils falling profits this week.

A consensus of City analysts expects the firm to post a 15 per cent dive in underlying operating profit to £280m for the full year to September.

It comes after the FTSE 250-listed group said earlier this year that an 'unprecedented' prolonged period of hot weather across the continent meant more people spent June and July enjoying the sunshine at home.

However, Thomas Cook's current trading performance should have improved or at least stabilised since it warned over profits in September.

Since then, holiday bookings for European destinations have not waned, broker Numis said, despite fears of a potential hard Brexit. …

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