thomas cook sales and profits up

THOMAS Cook AG has seen profits rise by 44.5% to £95 million for the financial year ending October 31, 2001.

Sales for year rose to £4.9 billion, 58.3% up on the previous year.

The success of the group was largely put down to the acquisition of Thomas Cook UK, which now accounts for 28 of total sales.

The company has predicted revenues will fall this year because of the effect on the package holiday market following the September 11 terrorist attacks.