Thomas Cook buoyed by brighter outlook

Travel giant Thomas Cook today said profits were set to soar ahead of forecasts as it showed further signs of improvement in its UK business.

Shares in the German-owned firm soared 6% after it said profits for the year to October 31 would hit €375.3m – 26% above last year and well ahead of market expectations.

Thomas Cook, which merged with rival MyTravel in June, said UK winter bookings had improved since its November update and added that early indications for the summer season were good.