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

difficult to determine whether TT or TCG is a better investment at current levels .... both have their appeal, but while TCG has outperformed TT astronomically, TCG was of course starting from a very low base

indeed, the 5-year chart below (TT is blue; TCG is red) would imply TCG still has greater near-term upside, but input from others would be useful

I think both are good investments at the moment, cynic. The weather is predicted to be pretty awful for at least another month, perhaps longer and if we have another Summer like last year it can only be good for the travel industry - and dreadful for businesses like Wyevale.

Interims are out last week of may, so at that point I shall be selling, depending on the figures. Have had a very good run from 96p, but once the figures are out I can't see much happening with the TCG sp until the autumn, so will be investing the profit elsewhere. I am reasonably confident the interims should be good, so that will be my last tilt at TCG for the time being. I wonder if 180p is achievable?

Rumoured to be an RNS out tomorrow - an embargoed link was put up on the TCG website earlier this morning by mistake.

I thought this was a rubbish ad, but for it to be banned is quite silly when you consider the latest meerkat ad shows a meerkat throwing a brick through a neighbour's window.What kind of message does that send out to children?

Thomas Cook TV ad banned after consumer complaints


15 May 2013 at 07.31 GMT

Thomas Cook TV advert has been banned after viewers claimed it could cause harmful copy-cat behaviour among children.

More than 100 complaints were made against the ad which showed a holidaymaker remove a valve from a wheel of one of the company's coaches with a pair of pliers to cause a flat tyre in an apparent bid to avoid returning home from a sunny destination.

The advertising watchdog ruled that the Thomas Cook campaign was "irresponsible" after it received 118 objections.

The Advertising Standards Authority upheld complaints which suggested children could emulate the potentially dangerous scene.

The ASA ruled: “Although we were satisfied that adults would not view the ad as condoning the act of removing the tyre valve, we considered that children, including teenagers, were unlikely to identify the fantastical nature of the story.

“We also noted that the scene in which the tyre valve was removed was central to the ad's narrative and, because of the risks to children in emulating that action, considered that the ad unreasonably featured that behaviour.

“We therefore concluded that the ad was irresponsible.”

Cook argued that the “horrified and outraged” reaction of the other holidaymakers in the ad indicated that the behaviour of the man letting down the tyre was not condoned.

The company said it did not consider that the ad was irresponsible because it clearly showed a comical scene and the man's actions were immediately challenged as being wrong.

whoever sanctioned this irresponsible ad at THG should be sacked, perhaps the police and emergency services should be consulted before such advertisements are sanctioned.

LOL very funny Halifax - and the meerkat should be immediately sent to prison!

Moi?

Caught on camera, it was you!

http://www.youtube.com/user/CompareMeerkatAdvert

StockMarketWire.com
Thomas Cook Group narrowed its first-half pretax loss to £390.9 million, from a loss of £584.1 million, and unveiled a £1.6 billion refinancing plan to shore up its future.

Revenue was £3.2 billion, from £3.3 billion. Net debt declined £175.4 million to £1.2 billion at March 31. To balance day, the group has achieved £107 million, or 74%, of its cost cutting target.

"Our progress transforming the business also enables us to undertake our capital refinancing plan," said CEO Harriet Green.

"We look forward to continuing the rapid transformation of the Group so that we fulfil the potential of the Thomas Cook brand for our customers, suppliers and employees," she said in a statement.

The refinancing plan comprised £425 million gross proceeds raised form a fully underwritten placing of 87.6 million shares at 137p each, and a 2-for-5 rights issue of 401.6 million shares.

It also comprises 525 million euros of gross proceeds from the issuance of new bonds maturing in 2020, and £691 million of new debt facilities.

The plan would primarily slash the debt of Thomas Cook's balance sheet, and extend its debt maturity profile.

"This will reduce the very significant debt that we inherited, lengthen its repayment profile and consequently help us deliver the full benefits of the strategic plan we set out in March," Green said.

Half Yearly Report

Capital refinancing to support the continuing transformation of Thomas Cook, announced separately today

· £425 million proposed firm placing and rights issue, fully underwritten

· Euro 525 million New Bond Issue maturing 2020, fully underwritten

· £691 million New Facilities Agreement

Improving financial performance

· First half underlying EBIT on a like for like basis improved by £58.7 million to £(197.5) million compared with the same period last year.

· Underlying gross margin on a like for like basis improved by 110 basis points to 20.7% compared with the same period last year

· Net Debt declined £175.4 million to £1.2 billion at 31 March 2013 compared with 31 March 2012

· Encouraging current trading with strong bookings and gross margins

Delivering against targets and KPIs

· We delivered £47 million of cost out and profit improvement benefits in H1 2013, taking the cumulative achievement by the end of March 2013 to £107 million, ahead of plan. This represents 74% of the target of £145 million that we had planned to achieve by the end of FY13. We have brought forward the timetable in which to realise FY13 benefits, increasing the cumulative target for FY13 from £145 million to £170 million

· We have increased the total cost-out and profit improvement target for FY15 from £350 million to £390 million, reflecting a further £40 million of benefits that have been identified as being deliverable from existing initiatives

· We have completed the disposal of our North American business for net cash proceeds of £3.4 million

· We have appointed a new Global Head of Web, a new Chief Technology Officer, and announced a new partnership with Triporati as we develop our 'high touch high tech' strategy

Financial Highlights

· Underlying EBIT on a like for like basis improved by £58.7 million due to the previously announced UK turnaround plan and Group-wide cost out initiatives and improved capacity management. UK underlying EBIT improved by £29.5 million

· Group underlying gross margin, on a like for like basis, improved by 110 basis points and the UK underlying gross margin, on a like for like basis, improved by 110 basis points, reflecting more focussed capacity management

· Underlying free cash flow improved by £198.1 million

· Net debt declined by £175.4 million primarily reflecting better working capital management processes

I like it and so does the market by the look of the SP moving upwards.

Thomas Cook announces 1.6 bln stg refinancing plan16 May 2013 - 07:20

LONDON, May 16 (Reuters) - British tour operator Thomas Cook on Thursday announced a 1.6 billion pound ($2.4 billion) capital refinancing plan, including a placing, rights issue, a bond issue and new banking facilities. The company said it hoped to raise 425 million pounds through a placing and rights issue and around 441 million pounds from the issuance of new bonds. It also said it had agreed 691 million pounds of new banking facilities. The firm said the initiatives would significantly reduce its debt and help the company in its turnaround plan and enable it to resume dividends payments in the future. Thomas Cook said its loss before tax for the six months to the end of March fell to 390.9 million pounds from a loss of 584.1 million pounds in the same period a year ago, helped by cost cutting measures and a better performance by its UK business. Thomas Cook had said earlier that it reduced debt by 86 million pounds to 1.56 billion pounds over the last year and that it would cut 2,500 UK jobs and close 195 stores in Britain. It also said that it expected to cut costs by a further 60 million pounds this year.[ID:nL5N0B738R] [ID:nL6N0BY79F] The 172-year-old group has struggled over the last two years with a slump in sales that has forced it to renegotiate bank loans and sell off planes and retail outlets to lighten its debt load. [ID:nL6N0C521E] ($1 = 0.6568 British pounds) (Reporting by Rhys Jones, Editing by Brenda Goh) ((brenda.goh@thomsonreuters.com; +44 020 7542 2230; Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net)) Keywords: THOMASCOOK/

Increble.

16 May Thomas Cook Group... TCG Jefferies International Buy 156.10 144.70 155.00 155.00 Reiterates

SP TARGET 155p

Just gone short @160!!

Don't you dare jinx it!

I lied - actually its 160.3 :-)

I will be interested to see what the % return offered on the bonds is.

Lopped the top of mine.

Not missing out on that profit with the market being as it is.

Sounds painful. :-))