Turbulent times: Thomas Cook to take profit hit after heatwave dented demand

Thomas Cook has warned of a £30 million hit to profits after the UK heatwave affected demand for overseas trips. The group said underlying earnings would be £250m for the year to 30 Sep tember, down £58m on 2017. This was put down to additional charges including flight disrup tion and transformation costs, as well as dwindling demand for its tour holidays amid the heatwave. Group revenue was up 6 per cent on a like-for-like basis, reaching £9.58 billion. Earnings in the tour operator arm dropped by £88m due to a higher-than-anticipated decline in margins.