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Thomas Cook back to profit this year

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Travel operator Thomas Cook is back in profit for the first time in four years, thanks to rigorous cost cutting, including staff cuts of 2%, and better sales.

The German company recorded a net profit of 105.4m euros (£72m) for the year to 31 October, compared with a loss of 176.4 euros in the previous 12 months. Sales for the year were 7.66bn euros.

“All key segments have improved their income position and are reporting profits,” said finance chief Ludger Heuberg. “Thomas Cook UK and Ireland recorded the best level of profits.”

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