Travel Weekly Blog

Thomas Cook is presenting its results for year ended 31 october 2007 at 9.30 this morning. Pre-tax profits are up 30% to €284.3m.

The company says it is on track to deliver savings of at least €200m by 2008/09 due to the merger with MyTravel - that's €60m up on its original prediction.

This is how the company sees its development:

Mainstream (excluding financial services) will decline as a proportion of the total from 80% in 2005/06 to 72% in 2009/10.

Independent travel to increase as a proportion of the total from 18% in 2005/06 to 25% in 2009/10.

Revenue from financial services is expected to increase as a proportion of the total from 2% in 2005/06 to 3% in 2009/10.

Updates to come on Travel Weekly.
Martin Couzins, online editor