Thomas Cook 2014 final result5

DividendMax Ltd.

Thomas Cook 2014 final result5

First profit after tax in five years

Group revenue of £7,834 million, up 1.1%

Underlying EBIT of £310 million, up 11%

Profit after tax of £19 million, an increase of £177 million

Significantly stronger balance sheet with extended maturities and new enlarged banking facilities

Dividend expected to be paid in early 2017 in respect of FY16 earnings

New financial targets for the period to FY18

Customers responding to our differentiated holiday offering

Traded well overall despite external headwinds

Strong performance in our UK business which increased underlying EBIT by 42% to £119 million

Northern Europe and Airlines Germany grew underlying EBIT by 23% and 19% respectively

Underlying EBIT in Continental Europe declined by 21% due to more competitive environment; actions taken to restore profitable growth

Encouraging start to next year with strong Winter 15/16 trading in the UK and Northern Europe

Renewed focus on customer excellence to drive long-term growth through New Operating Model

Increasing investment in customer service and rolling out 24-hour hotel satisfaction promise

Introduced customer satisfaction as core KPI to drive loyalty and recommendations

Focusing on growing our sales of differentiated holidays and building appeal of own-brand hotels

Improving online and retail experience to give customers access whenever and however they want

Building a strong partnership with Fosun: Chinese joint venture and Club Med co-operation on track; hotel investment fund progressing, with benefits now expected over the medium term

Companies mentioned