Thursday, 27th November 2014

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Thursday tips round-up: Thomas Cook, Wolseley

Thu 27th Nov 14, 09:05

Thomas Cook reported a pre-tax loss of £114m yesterday, which markets had been expecting to turn into a pre-tax profit of £270m next year. Yet investors were already worried that overcapacity in this sector will hurt the turn-around story. Even if bookings help up prices could suffer. The shock announcement of chief executive Harriet Green's departure will do little to assuage their concerns - quite the opposite. The company was also vague regarding the direction of travel going forward, saying it expected "more measured" growth in profits. On net debt it did a tad better, guiding towards debt between £100m and £150m by the end of September next year.

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