Thomas Cook says Q4 trade good, winter bookings up

Thomas Cook, Europe's second-biggest tour operator, said it had traded well in the fourth quarter thanks to growing demand for package holidays and that it was on track to hit full-year profit expectations.

Thomas Cook on Wednesday said summer trading at its UK business was finishing well with medium-haul destinations proving particularly popular, and that trade in continental Europe had improved thanks to rate reductions, which had stimulated demand without hitting margins. Thomas Cook, in which stricken German retailer Arcandor sold its 43.9 per cent stake earlier in September, said bookings for winter 2009/10 had improved across its main markets since August."Consumers are still going on their holidays, but the trend towards later bookings continues. We are confident we can manage capacity and supplier costs through the season as we have done for the summer," Chief Executive Manny Fontenla-Novoa said in a statement.