Thomas Cook reports best-ever results

Thomas Cook UK and Ireland has recorded the best financial performance in its 163-year history, pulling in a £51 million profit in the year to October 31 2004.

Chief executive Manny Fontenla-Novoa said the results were due to cost-cutting measures, which have seen the company improve its financial performance by £110 million since October 2001. “This was another year of challenges for the travel industry but we made excellent progress both financially and strategically,” he said.

He said the company had also benefitted from using the Thomas Cook brand for all of its sales channels and 60% of its product were now sold under the brand versus 40% sold as JMC and Sunset.