September 24, 2018 / 6:15 AM / 22 days ago

Thomas Cook cuts profit guidance after hot summer

LONDON, Sept 24 (Reuters) - British travel company Thomas Cook cut its 2018 profit outlook by about 13 percent on Monday, blaming a heatwave in northern Europe over the summer which meant there was more discounting and tougher competition in the later part of the holiday season.

Thomas Cook guided that core earnings (EBIT) would come in at around 280 million pounds ($366 million) for the 12 months to Sept. 30, below a previous 323 million pound to 355 million range.

The company also said the hot summer was affecting demand for winter holidays, and added it would replace its CFO later this year. ($1 = 0.7649 pounds) (Reporting by Sarah Young, Editing by Paul Sandle)

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