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Thomas Cook has lost a third of its value today after the British tour operator announced for the second time in two months its forecast of annual profits.
Thomas Cook, the world's oldest travel agency, has also suspended its dividends as a result of the heat of the British summer.
He has been hit in recent months by the heat wave that hit northern Europe this year, dissuading British holidaymakers from booking lucrative last-minute deals.
Shares of the company fell 31% to their lowest level in six years at a trading stage in London this morning.
Thomas Cook warned in July and September that weather conditions had weighed on demand during the most profitable part of the summer season and had harmed winter trade. The latest decommissioning today has caused its stock to lose 70% over the last 12 months.
"After a good start to the year, we recorded a larger than expected decline in gross margin following the prolonged period of intense heat in our key summer period," said Managing Director Peter Fankhauser.
Advancing its two-day results, the company said its underlying operating profit had dropped to £ 250m by the end of the year, a decline of £ 58m from the previous year. Previous year.
In September, he had forecast an operating figure of 280 million pounds sterling.
Thomas Cook realizes all his profits in the summer when his clients from northern Europe, including Britain, Germany and Scandinavia, go on vacation, mainly to southern hot destinations. from Europe, such as Spain, Turkey and Greece.
Part of the success comes from £ 28 million of legacy and non-recurring charges due to transformation and disruption costs and unpaid bills from historic hotels.
"The UK has been particularly affected by the very strong promotional activity coming in to add to an already competitive market for holidays in Spain," the company said.
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