Travel firm Thomas Cook warned on August 11 that annual profits would be at the low end of market expectations due to the uncertain trading environment in Britain and the weaker euro. Thomas Cook sank into a loss in the third quarter of the group's financial year, it added in a results statement, citing the impact of the volcanic ash cloud chaos in April and the poor economic climate.
"As we enter the final quarter, it is apparent that trading in the UK business is softer than expected and, at current rates, the recent weakening of the euro will have an adverse impact on translation of our euro-based earnings," said chief executive Manny Fontenla-Novoa.
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