Mubasher: Thomas Cook Group on Wednesday announced that its pretax profit rose 20% in the fiscal year 2017.
The company’s finance charges jumped to GBP41 million ($54.3 million) due to costs of its bond refinancing in December 2016, which increased the pretax profit to GBP46 million by the end of September 2017.
The company’s revenue went up 9% on a like-for-like basis to GBP 9.01 billion, versus GBP7.81 billion in the prior year.
"While conditions are challenging in the U.K., we have implemented a set of actions to improve performance. Overall, based on current trading, I believe that we are well-positioned to achieve a full year operating result in line with market expectations," Thomas Cook CEO Peter Fankhauser said.
