Thomas Cook Group outlines priorities and outlook for 2019 following ‘disappointing’ results

    Thomas Cook Group outlined (27-Nov-2018) the following priorities and outlook for 2019:

    • Address performance across its UK tour operator business;
    • Improve capacity management and operational flexibility;
    • Drive increased focus on cash and cost discipline across group;
    • Improve selling of higher margin own brand hotels and differentiated holidays;
    • Expect to deliver progress on underlying EBIT and lower separately disclosed items, leading to substantial progress on reported operating profit;
    • Reported operating profit will be a primary focus going forward, together with free cash generation.

    Commenting on a “disappointing” year for the group, Thomas Cook Group CEO Peter Fankhauser said: “Looking ahead, we must learn the lessons from 2018 and go into the new year focused on where we can make a difference to customers in our core holiday offering. We will put particular attention on addressing the performance in our UK tour operator where the challenges of transformation in a competitive environment remain significant”. Profit in the group’s tour operating business fell GBP88 million in the year ended 30-Sep-2018. [more – original PR]