Travel firm Thomas Cook Group announced its yearly results with a 53% slide in fiscal 2016 profit, but the company announced to restarted its dividend after a five-year break.
Furthermore Thomas Cook said the trading was well in agreement with management prospects. It also said in statement that the coming season is 61% sold, that is almost 2% ahead of the same period a year ago. Meanwhile overall bookings are faster than the previous year too, but at much lesser prices, Thomas Cook said.
The company said that the bookings for Condor are flat and prices have even dropped by 4%. That’s why Thomas Cook decided to cut its exposure in the German short and medium-haul segment, grow its long-haul offering, and build more suppleness in flight plans.
Moreover the influence of falling customer demand in Turkey was counterbalance by shifting to alternate destinations, Thomas Cook said.
The London-based company made a pretax profit of 9 million pounds or $11 million in the fiscal year ended Sept. 30, down from GBP19 million year over year. Revenue stayed almost level at GBP7.81 billion in contrast with GBP7.83 billion.
The Thomas Cook’s board has affirmed a final dividend of 0.5 pence a share and the company previously said not to pay an interim dividend in the near future.