Results out soon in August.

Broker recos look very bullish and why not on a P/E of just over 6 to 2011.....

Thomas Cook Group PLC

FORECASTS 2010 2011
Date Rec Pre-tax (�) EPS (p) DPS (p) Pre-tax (�) EPS (p) DPS (p)

Panmure Gordon
02-08-10 BUY 319.00 27.10 11.30 338.00 28.70 12.40

Exane BNP Paribas
02-08-10 BUY 116.00 26.62 10.75 319.00 28.87 11.66

Numis Securities Ltd
02-08-10 ADD 324.20 27.60 11.25 357.10 29.90 11.81

Oriel Securities
02-08-10 BUY 330.40 28.40 11.40 363.50 31.30 12.10

KBC Peel Hunt Ltd
30-07-10 BUY 301.06 25.22 10.75 313.36 26.23 10.93

WestLB
30-07-10 SELL 28.81 11.52 29.91 11.96

Shore Capital
30-07-10 HOLD 312.00 26.50 11.80 347.00 29.50 13.00

Charles Stanley Securities
15-06-10 HOLD

Evolution Securities Ltd
11-02-10 None

Investec Securities [R]
09-02-10 BUY 327.00 27.30 11.74 352.23 29.39 12.49

Fyshe Horton Finney Ltd
25-01-10 BUY

Collins Stewart
24-12-09 BUY

Nomura Research Institute
25-09-09 RED

2010 2011
Pre-tax (�) EPS (p) DPS (p) Pre-tax (�) EPS (p) DPS (p)

Consensus 316.42 26.98 11.36 342.50 29.39 11.96

1 Month Change 1.07 -0.22 0.01 3.43 -0.14 -0.14
3 Month Change -11.92 -1.09 -0.05 -11.79 -1.00 -0.44


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS 2.76% 0.38% 8.92%
DPS 14.03% 10.80% 5.26%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA �574.90m �589.69m �613.90m
EBIT �372.50m �420.55m �447.05m
Dividend Yield 5.38% 5.96% 6.27%
Dividend Cover 2.62x 2.38x 2.46x
PER 7.10x 7.07x 6.49x
PEG 2.57f 18.55f 0.73f
Net Asset Value PS -240.80p 224.47p 240.43p

Mar 31:
Panmure Gordon: Buy - TP: 188p
Numis: Hold - TP: 135p
Shore Capital: Hold - TP N/A

Credit Suisse Neutral and lifts TP by 3p to 159p. Wow!

Apr 1:
Nomura: Neutral - TP: 135p
JP Morgan: Overweight - No TP

Apr 9; Barclays: Equal Weight - TP: 122p

Comment

First-half results tomorrow.

SHAME

All is not clear at Thomas Cook.............

Thomas Cook confirms it received costs payout over Corfu gas deaths
Parents of the two children who died from carbon monoxide poisoning while staying in a Thomas Cook hotel in Corfu have spoken of their anger after the travel company confirmed it had received a pay-out for costs related to the incident.

Thomas Cook would not reveal the amount they received back in 2013.

However, the travel firm reportedly claimed in the region of £3.5 million.

The parents of Bobby and Christi Shepherd have received approximately a tenth of that figure.

Bobby and Christi were six and seven years old, respectively, when they died at the Louis Corcyra Beach Hotel, after being overcome by fumes from a faulty boiler while on a Thomas Cook package holiday.

"It seems our children's lives are worth only a fraction of Thomas Cook's reputation," said Mrs Wood.

"This has never been about money as far as we're concerned, but it incenses us that through all this heartache Thomas Cook quietly set about claiming back its own costs.

"We only accepted the payout back then because the Greek economy was in freefall, and our lawyer told us if we didn't accept we might end up with nothing.

Today'Times

Thomas Cook faces boycott over Corfu deaths

Thomas Cook is facing a customer boycott and a sell-off of shares over its response to the deaths of two children at a hotel in Corfu

Daily Mail today

Now Thomas Cook hit by £75million shares sell-off and consumer boycott as family of children killed by boiler fumes say they weren't consulted over firm's charity gift

Bobby and Christi Shepherd died from carbon monoxide poisoning in 2006
Thomas Cook yesterday it had donated £1.5m payout to Unicef
Share value has fallen, and more than 2,800 people have joined Facebook page 'Boycott Thomas Cook'
Legal expert says firm's handling of the tragedy has played out 'like a slow-motion train crash'

There are quite a few Facebook pages set up calling for a boycott plus a number of web sites and petitions.

The TC board should consider suing the legal eagles who gave them the advice of how to handle things.

If they followed that advice, which they clearly did, then clearly too, it was wrong and did not take enough matters into consideration.

When disaster strikes, like wot it does sometimes, it seems an expression of sorrow or sympathy or care from the entity who received money for services rendered is ALWAYS to be taken as an obvious admission of guilt. And it's not. But it is always wrongly taken like that and so such expressions cannot ever be advised to be given by the lawyers involved.

not so much legal, but a company that specialises in disaster management

TC did care and said so.

It's the apology for what happened that wasn't forthcoming. TC felt they hadn't done anything wrong and so had nothing wrong to apologise for.

Clearly, they had done something wrong, (IMHO - but who am I to say?). IMHO, they were selling rental accommodation with faulty heaters that weren't safety tested and gave off fumes that weren't ventilated away and could therefore could kill punters - and punters did get killed too.

If TC have changed their policies now, then one wonders why? ie. Why should they need to be changed if they were right to start with?

Punters rightfully do expect to get better accommodation and should get it too. And if they don't, then getting compensation all seems a bit dodgy too, doesn't it. 'A bit on the low side', to say the least.

AIMHO.

it's a sign of our ever more litigious society that if something goes wrong, then all and sundry should pay for it

i could understand why the hotel insurers should shell out to the victims' family, but not entirely convinced that TCG had a duty of care and are thus culpable

however, from a pr point of view, TCG have clearly handled it badly

The inquest jury found that Thomas Cook failed iin its duty of care. Thomas Cook has inspected the hotel and were told that there were no gas heaters. It might have been sensible to have asked the hotel how they were heating water instead of just believing the proprietors.

The boycott Thomas Cook groups fall into two camps. One set wants the company to give the money they received to the parents. The other group, which is bigger wants to put them out of business.

"The other group, which is bigger wants to put them out of business."

That's daft and just plain malicious!


Better an improved Thomas Cook than some new, unknown, untried and untested massive holiday company and one who might just as easily fall into the same trap.

But Thomas Cook do need to be seen to be contrite so that they can be properly forgiven and everyone can move on. That's what's not really happened quite yet.

The former MD of TC was on the Today programme this morning.
If you didn't catch it here is a resume of
what he said. I listened to the interview and think what he said is pertinent.

After half-year results

Thomas Cook boss apologises over Corfu gas deaths
1 hour ago
From the BBC section Leeds & West Yorkshire

Christianne Shepherd, seven, and her brother Robert, six, died from carbon monoxide poisoning while on holiday in Corfu in 2006

The chief executive of Thomas Cook has said he is "deeply sorry" about the deaths of two British children on holiday in Corfu in 2006.
Christi and Bobby Shepherd, from West Yorkshire, died from carbon monoxide poisoning at the Louis Corcyra Beach Hotel.
Peter Fankhauser said: "From the deepest of my heart I am sorry."
An inquest jury ruled the children had been unlawfully killed and said Thomas Cook "breached its duty of care".
The children's parents have previously criticised Thomas Cook for not apologising to them directly after a letter of apology had been sent from the chief executive to Neil Shepherd and Sharon Wood.
'Going to change'
Mr Fankhauser has now told the BBC he was "deeply sorry".
"It is clear that there are things that we as a company could have done better in the past nine years," he said.
"In particular the way we conducted our relationship with the family and this is something that we are going to change."
He said he took responsibility for the way the company had communicated.
He also said he regretted saying Thomas Cook had done "nothing wrong" when giving evidence at the coroner's court in Wakefield last week.
The holiday firm was awarded damages against the hotel's owner in 2010.
Thomas Cook said its insurers had taken half the payout for legal costs and it donated the remainder to the children's charity Unicef.

A bit late, but better late than never .......


The chief executive of Thomas Cook has said he is "deeply sorry" about the deaths of two British children on holiday in Corfu in 2006.

Christi and Bobby Shepherd, from West Yorkshire, died from carbon monoxide poisoning at the Louis Corcyra Beach Hotel.

Peter Fankhauser said: "From the deepest of my heart I am sorry."

Too late and too little. Just a cynical ploy to avert damage to the company. Only a couple of months ago he said there was no need to say sorry as the company had done nothing wrong.