28th Nov 2013 07:58
LONDON (Alliance News) - Thomas Cook Group PLC Thursday reported a pretax loss of GBP158.1 million for the year ended 30 September 2013, compared to a loss of GBP336.8 million last year.
Its loss for the year from continuing operations narrowed to 207.6 million pounds or 16.7 pence per share, from a loss of 440.9 million pounds or 50.1 pence per share, prior year.
Loss for the period to owners of the parent was 199.0 million pounds or 16.7 pence per share, compared to a loss of 585.7 million pounds or 67.2 pence per share, prior year.
Underlying pretax profit increased to 118.2 million pounds, from 56.3 million pounds, a year ago. Underlying earnings per share improved significantly to 4.9 pence, from 0.6 pence.
Revenue from continuing operations rose year-over-year to 9.31 billion pounds, from 9.19 billion pounds.
The Group declared no dividends during the year ended 30 September 2013.
Thomas Cook Group announced an increase in three of its key 2015 targets: new product revenue, Wave 1 cost out and profit improvement and cash conversion. In addition, the group announced a new Wave 2 cost out and profit improvement target to be delivered by 2018, which will be of the same magnitude as wave 1.
The Group increased its new product revenue target for fiscal 2015 to be greater than 700 million pounds, compared to prior target of greater than 500 million pounds. Cost out and profit improvement target was increased to greater than 440 million pounds, compared to prior target of greater than 400 million pounds.
Copyright RTT News/dpa-AFX
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