LONDON May 15 British holiday operator Thomas
Cook reported a smaller first-half loss and said a
cost-saving project was ahead of target, giving it confidence in
its plan to become a more profitable business in the coming
For the six months to March 31 Thomas Cook reported an
operating loss of 187 million pounds, a 6 percent improvement on
the same period last year, and broadly in line with forecasts of
183 million pounds and 188 million pounds from analysts at
Jefferies and Morgan Stanley respectively.
Like most European tour operators and airlines, Thomas Cook
generally reports a loss in the traditionally weaker first part
of the year and makes the bulk of its profits in the summer
months when its customer base tend to take more holidays.
Thomas Cook, Europe's second biggest tour operator by
revenues which is currently in turnaround mode, said additional
savings helped it to raise a 2015 profit improvement target by
20 million pounds to 460 million pounds.
(Reporting by Sarah Young; Editing by Sophie Walker)