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

No 3m, my sister has four. Half an hour on the coach from the airport. Knocks spots of Gran Canaria, lovely resort and safe.

How wonderful. Might look at that for next winter, if I am still alive and kicking. Enjoy.

About four and a quarter hrs flight, have a look in your local tour operators.

Will do - I would have to fly from Manchester as I don't think Liverpool flies to Tenerife as yet and if I go it would be Christmas time - I hate Christas since I have been on my own so a great escape. Get in the swimming pool and don't put a stone a day on haha!! Bask in the sunshine, eat sleep be merry and relax, these bloody shares will be here when we are not.

That will be a good break for you 3m.

Mr C....."no one in their right mind flies with RyanAir .... Easyjet is another bucket shop airline"......Stansted is my nearest International airport (Norwich is closer but really only links with Schipol) and for short haul, cheap air travel I would certainly recommend EasyJet. Cheap, reasonably clean and quick with good links to European capital cities. All I want is a reasonably comfy seat and safe travel. I don't need in-flight entertainment nor food for such short haul flights. I agree RyanAir are the pits.

it happens that i'm near HRW, but i bet by the time you finish, there's little price difference between Easyjet or BA (avoid KLM like the plague; it's awful!) or any other "proper" ailrine

Weather is lovely, wish you were online with Thomas Cook

WHEN Harriet Green took over as chief executive of Thomas Cook, she said she did not do “minor tweaks” — that proved to be an understatement.

Since taking the reins last July, yoga fanatic Green has set about trying to transform the holiday giant, which would have gone bust in May last year but for a rescue deal with its lenders.

In Green’s first few months at the helm, the company has announced plans to slash £160m of costs. She is reorganising Thomas Cook’s aircraft fleet and last week revealed plans to axe 2,500 jobs, mostly by shutting 195 high street travel agents.

On Wednesday, Green, 51, will stand in front of investors and analysts to spell out her vision for the business.

Harriet hasn't made many mistakes since she took over as CEO, but one that she has made, in my view, is posting on twitter. Why on earth someone in her postition gets involved in such a load of nonsense is totally beyond me. The next thing we know is that she will be appearing on "I'm a celebrity, get me out of here".

Seems to be back in favour again today. Currently 84p.

Lucky,

Re-bought Friday at 73p

============

Think I will hold reasonably long period of 3-4 months.

Following on from Friday I would expect some volatility with the SP until the news on Wednesday - until then there will be rumour and speculation rife on all the bulletin boards.

Down 7.25p on Friday, up 7.25p today - glad I didn't panic and sell on Friday, but that is easy to say in hindsight. I wonder what games the mm's will play tomorrow.

Expectation is very high among posters on other bulletin boards regarding the statement tomorrow. I seem to remember the last statement was positive and the market reaction was so,so until an RNS later in the morning announced all the Director buys and then the share price took off.

So maybe a small short then :-)

perhaps short with a tight stop.

skinny, I don't ever short shares - I just can't get my head around it! Trying to be objective here and I'm just wondering if the news is already factored into the current price. TT. going well today and still seem to have the upper hand in the travel market.

I sold out after the jobs news, having done pretty well.

I think tomorrow is a flip of a coin - good luck.

NEW GROWTH STRATEGY AND UPDATED PROFIT IMPROVEMENT PLANS

Financial Highlights

· Business Transformation gaining momentum. A further £50m of cost-out actions identified bringing the total profit improvement actions so far to £350m with more to come.

· Significant progress achieved in embedding improved working capital management practices contributing to c£150m improvement in average working capital.

· UK Turnaround on track; thorough UK restructuring underway to re-shape the organisation to meet customer need with a target to deliver UK EBIT margin in excess of 5% by FY15.

· Northern and Central Europe continue to build on their industry leading positions.

· Executing on one Group-wide Airline Segment, improving costs, quality, reliability and customer experience to build a stronger business.

· Transformed approach to hotel purchasing to utilise Group scale, already delivering tangible benefits.

· Non-core disposal programme underway with the opportunity to realise gross proceeds of £100- £150m.



Strategic Highlights

· A Strategy of simplification, focused on delivering trusted, personalised holiday experiences delivered through a high-tech, high-touch approach.

· New strategy has been based upon extensive research and analysis including a comprehensive, in-depth survey measuring the attitudes and changing needs of almost 18,000 travellers, validated against the experiences of many of Thomas Cook's own customers.

· Clear metrics developed to measure and report on progress, with the following measures established:

FY15 Targets

o New product revenue > £500m

o Increase Group web penetration to > 50%

o Cost Out/profit improvement of £350m

FY15 KPI's

o Sales increasing at CAGR > 3.5%

o Underlying Gross margin improvement >1.5%

o UK EBIT margin >5%

o Cash Conversion of >60%



· The strategy will deliver on-going product and service innovation through four major initiatives:

o Expand our successful, proven international hotel concepts across our markets

o Creating a new portfolio of flexible, trusted, products and services

o Creating a single, consistent, omni-channel gateway for customers to access personal recommendations from our extensive range of products and services

o All underpinned by the powerful Thomas Cook brand and an integrated IT platform

those who are short might have preferred to have been burnt at the stake!