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Thomas Cook says recovery plan on track as earnings rise

Reuters - UK Focus

LONDON, July 31 (Reuters) - British holiday operator Thomas Cook reported a recovery in quarterly earnings and said it was confident its transformation plan was on track.

Thomas Cook (Xetra: A0MR3W - news) posted earnings before interest and taxes (EBIT) of 33 million pounds ($56 million) in the three months to the end of June, its fiscal third quarter, a big improvement on the 1 million pounds it made in the same period last year, helped by the timing of Easter.

Analysts currently expect the company to report EBIT of 340 million pounds in the 12 months to the end of September, according to a Thomson Reuters consenus forecast.

The firm said its operational performance remained in line with internal expectations for the full year.

($1 = 0.5911 British Pounds) (Reporting by James Davey; editing by Kate Holton)