Egypt crisis hurts revenues at Thomas Cook
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Continued trouble in Egypt was attributed to Thomas Cook’s GBP60m (US$100m) drop in revenues to GBP9.1bn for the 12-months ending 31 March.
Excluding Egypt, the tour operator saw sales increase 0.8%, and is confident of reaching 3.5% full year sales growth in full-year 2015 even with the country included.
The group’s underlying EBIT still registered at a loss of GBP274 million in the 12 months up to 31 March 2014 but was GBP77m better than the same period last year.
Thomas Cook Group’s chief executive Harriet Green said it will continue to work through its waves of cost out and profit improvement initiatives, which are currently ahead of the initial target
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