February 8, 2018 / 7:08 AM / in 3 months

BRIEF-Thomas Cook says on track to meet forecasts

Feb 8 (Reuters) - Thomas Cook Group Plc:

* Q1 REVENUE 1.749 BILLION STG

* Q1 UNDERLYING OPERATING LOSS -42 MILLION STG

* ‍STRONG Q1 REVENUE GROWTH OF 7% TO £1,749 MILLION​

* ‍SEASONAL UNDERLYING OPERATING LOSS IMPROVED BY £10 MILLION TO £42 MILLION​

* ‍SUCCESSFUL EUR 400 MILLION BOND REFINANCING EXTENDS MATURITIES AT REDUCED INTEREST COST​

* ‍FULL YEAR OUTLOOK IN LINE WITH CURRENT EXPECTATIONS​

* ‍GROSS PROFIT OF £376 MILLION WAS £16 MILLION HIGHER THAN LAST YEAR​

* ‍GROSS MARGIN OF 21.5% REPRESENTS A DECLINE OF 50 BASIS POINTS​

* ‍SEASONAL UNDERLYING LOSS FROM OPERATIONS IMPROVED BY £10 MILLION TO £42 MILLION​

* ‍WINTER TRADING FOR GROUP IS IN LINE WITH OUR EXPECTATIONS​

* ‍TOTAL BOOKINGS ARE UP 8%,​

* ‍AVERAGE SELLING PRICES ARE 1% LOWER OVERALL, REFLECTING A SHIFT IN MIX FROM LONG HAUL TO SHORT AND MEDIUM HAUL DESTINATIONS​

* ‍TRADING FOR 2018 SO FAR IS ENCOURAGING​

* ‍IN UK, WE ARE SEEING POSITIVE DEMAND BUT CONTINUE TO EXPERIENCE MARGIN PRESSURE IN HOLIDAYS TO SPAIN​ Source text for Eikon: Further company coverage: (Reporting By UK Bureau)

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