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Thomas Cook summer bookings down 5 percent on Turkey slump

Reuters - UK Focus

LONDON, May 19 (Reuters) - British holiday company Thomas Cook said its summer bookings were down 5 percent as tourists shunned Turkey, its second-most popular destination last year, leading to a lower forecast for full-year earnings.

The group said revenue for its first half grew slightly to 2.67 billion pounds ($3.9 billion), and its underlying operating loss improved by 5 percent to 163 million pounds thanks to the positive impact of selling higher quality holidays on its margins.

Thomas Cook (Xetra: A0MR3W - news) said it expected underlying operating profit for the year to be between 310 million and 335 million pounds, towards the bottom of analysts' forecasts of 310 million to 359 million.

It (Other OTC: ITGL - news) said it continued to expect to pay a dividend in respect of the current year's earnings.

($1 = 0.6855 pounds) (Reporting by Paul Sandle)