Industry giants set for trading updates

Industry giants set for trading updates

Updates on the performance of Europe’s two largest tour operating groups during the critical summer peak are due this week.

Tui and Thomas Cook are both expected to release pre-close trading statements on Thursday.

These will be preceded tomorrow (Tuesday) by the release of third quarter earnings by P&O Cruises and Cunard parent Carnival Corporation.

Broker Panmure Gordon recently pointed out: “Whilst we believe Tui Travel is a strong operator with good long-term growth potential, in our view Thomas Cook offers more substantial upside from the improvement in underlying like-for-like trading, in addition to potential increases to cost savings targets and future dividend payments.”

Meanwhile, Peel Hunt said of Thomas Cook: "The turnaround thus far has been dramatic, but we believe that there is more to come.

"From here comparatives will become more challenging and the easy wins have been made. However, margin targets seem reasonable and the quality and quantum of earnings should mean further share price outperformance."

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