• Text size      
  • Send this article to a friend
  • Print this article

Thomas Cook announces loss in annual revenue

The UK's second-biggest travel firm Thomas Cook saw its share price slide more than 3% today after it revealed its turnaround plan had pushed it to a wider full-year loss.

The UK's second-biggest travel firm Thomas Cook saw its share price slide more than 3% today after it revealed its turnaround plan had pushed it to a wider full-year loss.

The tour operator saw its shares slide 0.9p to 23.1p after it revealed a £590 million bottom line pre-tax loss for the year to September 30, compared to a £518 million loss last year.

Meanwhile, the FTSE 100 Index came under pressure, sliding 23.7 points 5775.9 as doubts over a bailout deal for Greece took hold.

Eurozone finance ministers agreed the deal late on Monday, which will see Greek debt cut by 40 billion euros (£32 billion), paving the way for around 44 billion euros (£36 billion) of bail out cash to be released.

Michael Hewson, senior market analyst at CMC Markets, said there was a lack of enthusiasm among investors over the deal due to "sketchy" details.

Britain's banks came under pressure with Lloyds Banking Group dropping 0.5p to 45.9p and Barclays falling 1.1p to 242.6p.

Packaging giant Bunzl sank to the bottom of the index after Citigroup cut its share-price target as it expects the group's underlying growth rate to slow due to a weaker US market. Shares dropped 39p to 1035p.

United Utilities the biggest riser in the top flight, adding 9.5p to 678.5p, after it unveiled pre-tax profits in the six months to September 30 of £135.6 million, up from £124.4 in the same period last year.

Contextual targeting label: 
Finance

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

127976