Thomas Cook : FY adjusted EBIT 11% shy of forecast and 2019 outlook fairly unfavourable. Slow recovery likely. Buy confirmed, target price cut to 70p
>FY 2018 adjusted EBIT 11% shy of company guidance - Yesterday Thomas Cook reported its preliminary full-year results for 2018 (closing end-September) ahead of the definitive results scheduled for tomorrow morning. Full-year sales clocked in at € 9,584m, up 6% l-f-l y-o-y, 4% above our estimates. The group's adjusted EBIT figure (the main aggregate) was low, coming to £ 250m, 11% lower than the company's guidance and the consensus estimate of £ 280m. This poor perform...Thomas Cook Group is a travel company. Co.'s segments include: Group Tour Operator, which includes tour operations and associated activities within Co.'s 17 source markets; and Group Airline, which provides airline-related services, including both scheduled and charter services, and associated activities within Co.'s four airlines.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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