If I was grading the update it'd get a "B".. not what I'd hoped for.. but some glimmers of hope in there..
I am just getting fed up with the excuses.. Egypt.. I mean come on.. you've had 2 years to realign the biz for that factor.. what on earth are they thinking at HQ?? they sorted the airlines to refocus away form egypt.. why not trhe holiday offerings.. madness.. that really rubbed me up the wrong way..
ok so for me, -ves: Egypt excuse.. Little mention of French biz which scares me a little.. brushed over this a bit a quicly for my liking the update is thinner than has been int he past.. makes me wonder are they holding back for interims or got things to hide. not liking the increased proprotion of short term breaks.. which appear to be less profitable albeit margin is good..
+ves Uk, scanidnavian and German biz continues to imrpove.. on track with cost outs contiued growth in concept hotel bookings etyc.. shudl help margins
overall.. Im inclined not to buy anymore for a bit.. keep my 2/3rds exposure, not putting the 1/3rd I sold back in.. going to keep that in Blinkx.. which is starting to reover.. but.. as that mov sinto profit for me(fingers crossed) depending on outlook, may moves some of it back to TCG before May update...
I have then decided, and may change of course, that I will sell all of TCg after May results.. Im not prpeared to ride summer at full expsoure, given 1. toppiness in mkts, 2. ukrain/russia risks ongoing.. and 3. Im greedy and want to get a few more on the next likely dip over summer.. before we approahc end of year and get closer to dividend time.. looks like HG has got more of a struggle on her hands in meeting the margin and profitability taregts, and web penetration targets they have set.. so Im not convinced early 2015 will be divi time.. might be mroe likely mid -late 2015, and more likely they'll hit management taregts in 2016.. bit late.. so
I don't think £2.80 and FTSE100 inclusionis likely now until end of next year.. sux as had hoped for early neaxt year, maybe by May.. but I just can't see 50% increase happening until profits are materially higher form where they are now prejected to be for 2014
It was worth listening in to mate, the brokers , Morgan Stanley , Nomurra, HSBC etc were the ones asking the questions and she came across pretty well, obviously more meat on the bones in May , but confident on profits going forward , did try to make some notes as it was going on, looking back now, its like a load of scribble, will try and decipher a bit lol !
Thomas Cook’s UK holidaymakers are booking shorter than usual summer getaways, adversely affecting the tour operators’ selling prices for the “high” season. In a trading update, the travel company said the summer season was half-sold in all its markets – slightly ahead of the position this time last year – and that total bookings were 2 per cent higher. In the UK, bookings were 3 per cent higher. However, Thomas Cook explained that average selling prices were 2 per cent down, “due mainly to product mix and a higher proportion of shorter duration holidays reflecting customer demand”. It said it was attempting to offset the lower prices with new products and cost savings to improve profits. Across all of Thomas Cook’s markets, average selling prices were flat. On Wednesday, rival tour operator Tui Travel, Europe’s biggest, said its average selling prices were up 2 per cent. Harriet Green, Thomas Cook chief executive, described customer bookings as showing “an improving trend” since the first-quarter results. “Compared with last year, margins are expected to improve more than average selling prices, reflecting enhanced yield management and the benefits of our cost out and profit improvement programme, which is delivering ahead of schedule,” she said. Thomas Cook’s share price reacted positively on Thursday, rising by around 3.5 per cent. The shares have been on a steady upward climb as the group’s three-year turnround strategy, following its near-collapse in 2011, unfolds. The strategy involves disposing of businesses, cutting net debt, launching new products and cutting costs. Leisure analyst Mark Brumby of Langton Capital said: “Thomas Cook has survived its near-death experience and, whilst it has not yet prospered, it should be in a position to do so in 2014 and beyond. “That said, today’s statement does have a few cautious strands running through it and the remainder of the group’s recovery will be hard-fought.” The winter season is now 93 per cent sold, with average selling prices 1 per cent higher than at the same stage in 2013. But the impact of unrest in Egypt continues to weigh on tour operators, particularly in France. Thomas Cook said that, excluding Egypt, cumulative bookings were up 5 per cent and that “the gross margin in northern Europe had improved year-on-year” despite a 2 per cent drop in average selling prices.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.