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

i am confident that tcg will not now go bust, but whether that means the numbers on tuesday will be strong enough to give a boost, remains to be seen ..... certainly the markets are very twitchy at the moment, but i suspect dow fall on friday was overdone, but that will be more apparent on monday while we are closed ..... for sure french left will succeed today, but they will find themselves pretty much tied to existing fiscal policy

Thomas Cook faces £14m bill for bank fees

Britain's oldest travel company is paying a heavy price in return for the new agreement, which will give it an extra two years breathing space as chairman Frank Meysman and interim chief executive Sam Weihagen battle to turn the beleaguered business around.

Debt-laden Thomas Cook has been fighting to stay above water since November when it was forced to go cap in hand to lenders for a £200m emergency bail-out following a string of profit warnings.

The £1.4bn package, which is £200m higher than previously expected, comes with a hefty 1pc – or £14m – fee to be paid to Thomas Cook's consortium of 17 lenders simply for agreeing to change the terms of its loans.

As a sweetener, the banks, led by Barclays and RBS, have also been given the option to buy a 10pc stake in the 170-year old tour operator before May 2015 at a knock-down price of 10 cents (8p) per share – a 62pc discount to Friday's closing price of 21p.That discount will probably widen as Thomas Cook continues its turnaround plan.

The holiday operator will also have to submit to a yearly "cash sweep", where any excess money in the business above £250m will be scooped up to pay off debt.

Failure to hand over at least £100m during cash sweeps in March 2013 and March 2014 will result in a fine of 2pc of the group's outstanding debts when the refinancing expires on May 31, 2015.

Despite the punishing terms of the deal, Mr Weihagen said the refinancing highlighted the banks' "confidence" in Thomas Cook, which is weighed down by debts of almost £900m.

Details of the lending package were released yesterday alongside an update on the group's strategic review.

The company said it is at an "advanced stage" in negotiations over a sale and leaseback of up to 20pc of its 91-strong aircraft fleet – a move that is expected to raise well in excess of £100m.

It is understood the operator is also close to securing a deal for its 77.1pc holding in Thomas Cook India, which has been valued at about £113m.

Buy-out groups Carlyle, Kohlberg Kravis Roberts and TA Associates have been short-listed for the stake.

No further asset disposals were highlighted in the strategic review, although the City believes the group will have to hang a For Sale sign on other parts of the business in the medium-term. Analysts have also raised the spectre of a rights issue within the next 18 months.

So far, Thomas Cook has generated £135m towards paying off debt though the sale of "non core" assets such as hotels in France and Spain.

Mr Weihagen, who postponed his retirement last summer to take the chief executive role on a temporary basis, said: "We continue to make good progress in strengthening the group's financial position, and our disposal plans, including an aircraft sale and leaseback, are proceeding well."

Mr Meysman insisted the search for a long-term chief executive "is progressing well". Thomas Cook has been without a permanent boss since August, when Manny Fontenla-Novoa was forced out by the board.

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/leisure/9248346/Thomas-Cook-faces-14m-bill-for-bank-fees.html

jfletendre, Good to see the sp rise hope all went well today regards selling them or
if you made the decision to keep them.

markets are trying to go into freefall so sold mine this morning crystalising a modest loss

Thnks for your post dreamcatcher - unfortunately didnt sell as was out at meetings for most of the day - wish I had got rid of them, given what I've come home to see is the SP. Seems like everything went into freefall today!

Thnks for your post dreamcatcher - unfortunately didnt sell as was out at meetings for most of the day - wish I had got rid of them, given what I've come home to see is the SP. Seems like everything went into freefall today!

Do not need another day like that. Thats what gets me you need to be watching 8 hrs a day.

so true - predictions by City Index are for FTSE to be down and DOW to head up - you're up early DC!

Early riser/bird catches the worm. lol

Thomas Cook appoints Kwik-Fit man Michael Healy to be finance director after Paul Hollingsworth resigns





http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9253801/Thomas-Cook-appoints-Kwik-Fit-man-Michael-Healy-to-be-finance-director-after-Paul-Hollingsworth-resigns.html

http://www.moneyam.com/action/news/showArticle?id=4367094

These are still going bust .. very soon they will have nothing left to sell .... Huge debt....Huge fuel bill ( look at IAG results ...... a word economy getting worse by the day........

don't agree ..... have you shorted?

No I have not !! I give them a year tops ( Kwik fit ??

You can't get better than a Kwik-fit fitter, we're the boys to trust.... lmao.... All the same I have a small long position on TC.

so tony, all mouth and trousers then .... i suppose you run a cyber portfolio too

No need to be rude ......

merely an observation that was clearly close enough to the truth to hit a nerve ...... any fool can make brash statements without marrying groats to gob - neither risk nor potential pain involved

Cynic

Have you read the circular to share holders 14 May .?? even the board only give the company a year ... and that's if the vote is passed...

no, so cannot comment on the rest of it ..... i do not currently hold TCG, but i doubt that Anite would have invested so heavily with their specialised IT/travel tuff if they though the company was going to fold .... whether or not TCG remains independent is a different argument altogether