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Thomas Cook shares boosted by strong results

Thomas Cook shares boosted by strong results
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Shares in Thomas Cook have climbed on the stock market after the firm posted full-year results ahead of expectations.

At 09:55 GMT, stock in the travel group was up 4.1p to 220.3p following the publication of its performance during the 12 months to September 30th.

The data showed that although underlying profit dropped 0.4 per cent to £308.2 million, the decline was smaller than that predicted by analysts questioned by the firm.

Revenue climbed six per cent to £9.27 billion over the period, while adjusted basic earnings per share rose ten per cent to 26.4p.

Manny Fontenla-Novoa, Thomas Cook's chief executive, said that the background of the recession and swine flu threat made the results "particularly pleasing".

"Profit from operations grew 13 per cent, demonstrating the resilience of the package holiday and the power of our brands," he stated, adding that the firm's position for winter trading is showing signs of improvement and summer bookings are matching expectations.

Posted by Greg SeckerADNFCR-1681-ID-19485282-ADNFCR