British tour operator Thomas Cook expects lower annual profits


British travel company Thomas Cook expects that following the results of the fiscal year ended September 30, its pre-tax profit fell by £58 million to £250 million. Such a significant drop in profits was caused by the hot summer weather in the country, which did not allow many Britons to travel. Low profit margins also made the British tour operator to refuse to pay dividends for the fiscal year. According to preliminary estimates, the company, nevertheless, expects that its revenue for the year will increase by 6% and will be 9 billion 580 million pounds. During trading on Tuesday, Thomas Cook shares showed a record decline in 7 years, losing 28% in price.

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