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

has i said yesterday results 14th dec 7 am and the city will like the news.

have has today paid over the 7k to tcg for 4 of my familys hol to florida total 9800
and put 3k on there thomas cook dollar credit card .
and i am going lunch time to book 2 hols for me and my wife one in aug and one in nov enough 5k all is well and now safe to book

I would have thought that unless you can see sp dipping below 9p that the dividend of 8p/share makes this a buy at the moment considering they are making profits and the issue is short-term cash-flow? or am I missing something?

and what are the odds on a divi of 8p not being paid? ..... surely the company cannot possibly afford it and/or the banks will block it

the banks will BE paid by next xmas .

that as may be and was not the question ..... read again

cynic i think you are correct that forthe next 12 months no div

well done sherlock - got there at last :-)

myself i am buying for the rise which will come .

I can't see any redeeming feature in the the chart - even the volume has dropped off.

Final Results.

- Revenue increased 10% (8% at constant currency) to GBP9,809m on volume, price and mix gains and benefits from acquisitions;

-- Good performances in Central Europe, Northern Europe and Airlines Germany offset by a fall in UK profit and the impact of MENA disruption, particularly in France resulting in a 16% reduction in underlying profit to GBP304m;

-- Exceptional charges of GBP573m resulted in a loss before tax of GBP398m (2010: GBP42m profit). The charges are largely non-cash and include GBP428m of impairments and write-downs. Cash exceptionals were GBP90m (2010: GBP158m);

-- Free cash inflow improved by GBP50m to GBP18m despite the fall in profits;
-- Implementation of UK turnaround plan underway. Turnaround expected to deliver GBP110m annualised improvement in profitability, following a phased build-up over three years;

-- Further progress on asset disposals made, with the sale of five hotels in Spain, that will result in an estimated net debt reduction of GBP81m;

-- Cautious stance on winter capacity taken in UK, Central and West & East.
Sam Weihagen, Group Chief Executive, Thomas Cook Group plc said:

"This has been a very challenging year for the Group, despite which we still delivered an underlying operating profit of over GBP300m. We have instigated significant management changes and implemented a turnaround plan in the UK to address our areas of underperformance. We continue to take action to substantially strengthen the balance sheet and the Board is undertaking a full strategic review. I am confident that these changes will improve profitability and build a stable foundation from which to rebuild shareholder value.

Customers have been very supportive in recent weeks and are continuing to book with Thomas Cook. Bookings outside the UK were broadly unaffected by news of our refinancing and in the UK bookings have recovered well. For over 170 years Thomas Cook has provided customers with fantastic holiday experiences and we will continue to do so."

1 Underlying profit from operations is considered by management to give a fairer view of the year on year comparison of trading performance and is defined as earnings before interest and tax, excluding all separately disclosed items. It also excludes our share of the results of associates and joint venture and net investment income.

2 Free cash flow includes cash from operating activities, purchase and proceeds of disposal of tangible and intangible fixed assets and interest paid.

and are those numbers any worse than what was expected?

Thomas Cook reports 398m annual loss

Travel firm Thomas Cook has announced a 398m ($616m) annual loss for the year to the end of September.

Its results were hit by exceptional charges of 573m, but said its UK "turnaround plan" was under way.

It also said it would close 200 "under performing" stores from its 1,300 portfolio over the next two years.

It comes a day after Thomas Cook sold Spanish hotel chain Hotels Y Clubs De Vacaciones (ICV) to Grupo Iberostar for 72.2m euros ($95.4m; 61m).

The world's oldest travel agency has been looking to cut its debts to restore the confidence of investors

In November it secured 200m of new financing, just days after seeing its shares plunge 75% in one day.

Its lenders, including Barclays, HSBC, RBS and UniCredit, agreed to provide the new facility until 30 April 2013.

Thomas Cook has blamed the unrest in Egypt and Tunisia and floods in Thailand, all key holiday destinations for the company, for hitting sales.

"This has been a very challenging year for the group, despite which we still delivered an underlying operating profit of over 300m," said chief executive Sam Weihagen.

But he told the BBC that, despite the shop closures, the company still had a "very strong presence on the High Street".

However he admitted that the business had been hit by "e-commerce" - people booking holidays on the internet.

Shares in the company have shed more than 90% of their value since March.

Question is would you risk booking a holiday in advance with them for next year. Errr I don't think so :O)

Ask Tanker :-)

i have and will book more for my family and i will only book
them at a shop.quite happy to do so .
some of my family are going to florida in april .
i would never book on line ,
to me a holiday should be a stress free and i like the girls in the shop to sort it all
out and i am rich and idle
tomorrow i am going to book for myself and my wife we are going to go this year
first time ever in aug .

Best of British Tank

Im with you Tanker booked my hols and bought into TCG

Thomas Cook: No-one's been in charge of this holiday from hell
.Alistair Osborne, 16:16, Wednesday 14 December 2011

No, this wasnt quite what was in the brochure. Thomas Cook has delivered the financial equivalent of the holiday hotel thats falling down, with frogspawn in the swimming pool and only the local fire-eater in the bar.

One look at the delayed full-year numbers and you wonder if anyones actually been running the show since 2007s 3.4bn merger between the German-controlled Thomas Cook and the UKs MyTravel.

Of course former chief executive Manny Fontenla-Novoa was fired in August with a grotesque 1m pay off. But what was outgoing chairman Michael Beckett up to, presiding over this mess? Where too was the rest of the board?

Forget the 304m of underlying operating profits. Exceptional charges of 573m give a much more accurate picture of the years of mismanagement. The UK and Canadian businesses are in a right pickle, with the 278m of goodwill impairments highlighting just how bad some of the relatively recent acquisitions have turned out to be.

Worse still is the 86.3m writedown largely associated with a failed reservation system. Sure IT projects dont always work out. But this ones been a disaster now for five years. Its all very well finance director Paul Hollingworth saying hes only been on board for two years. Thats long enough to have done something about it.

That said, a company that can increase its revenues by 10pc to 9.8bn has to have some sort of business worth saving. So, the real issue is not whether Thomas Cook can survive (it can) but whether it can avoid wiping out the shareholders.

Thanks to the cack-handed way Thomas Cook went cap in hand to its banks twice in a month for 200m of emergency funding causing the shares to fall 75pc in a single day the equity is now worth just 124m. Yet, allowing for 800m of seasonal swings in working capital, the company has around 900m of average net debts. Something has to give.

Thomas Cooks plan is to put a 300m-500m dent in the debts via selling businesses a fire sale if ever and make 110m savings from its troubled UK wing over the next three years. Both targets look tough in what is a brutal consumer market, where the whole concept of package holidays is being beaten up by the internet.

To this end, it has instigated a strategic review that could yet see the sale of any bit of the business. That hardly looks convincing though. By now, Thomas Cook should know exactly what bits of the business it should sell but making decisions has been made all that trickier by having no permanent chief executive.

In that role, there is only stand-in Sam Weihagen, the former head of the northern division who has been forced to postpone his retirement.

Asked what he has done to deserve his current job, he says: Some people get punished for what they did in an earlier life. Im still trying to figure out what.

If he can turn round Thomas Cook without a big rights issue not to mention a debt for equity swap - hell deserve his retirement. And a holiday.

Thomas Cook to embark on Middle East expansion

http://www.hoteliermiddleeast.com/13162-thomas-cook-to-embark-on-middle-east-expansion/