Thomas Cook grew its group revenue by 7% to £1,749 million in the three months to 31 December, driven by more customers and higher pricing in its tour operating and airline businesses.
The gross profit increased by £16 million to £376 million, but the gross margin fell 50 basis points to 21.5% because of higher Spanish hotel bed cost inflation and a lower mix of long haul sales.
The group's seasonal underlying loss from operations improved by £10 million to £42 million, reflecting a good performance by Group Airline, against a weak comparative period for Condor