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Thomas Cook to meet financial year targets

Thomas Cook to meet financial year targets
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Thomas Cook has said it is on track to meet its forecasts for the current and forthcoming financial years.

The firm stated in a market update that it is "pleased" with trading levels seen during the fourth quarter of the year, which have been high due to strong demand for package holidays.

Group chief executive officer Manny Fontenla-Novoa noted that sales over the summer months were "in line with expectations", something that those trading Thomas Cook shares on the stock market may welcome.

He observed that a trend of customers booking breaks later has emerged - possibly due to the economic downturn - but added: "Through our flexibility we have managed capacity and supported our pricing and margins."

According to Reuters, Thomas Cook's share price has risen by a third over the course of the year, but the company's stock dipped slightly following the announcement this morning, dropping 1.54 per cent to be priced at 237.1p.ADNFCR-1681-ID-19385630-ADNFCR