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Thomas Cook Group fiscal H1 loss widens YOY

Thomas Cook Group PLC said its normalized net income for the fiscal first half ended March 31 was a loss of 10 Great British pence per share, compared with a loss of 10 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of £151.1 million, compared with a loss of £149.8 million in the year-earlier period.

Total revenue decreased 8.9% year over year to £2.74 billion from £3.01 billion, and total operating expenses declined 8.5% on an annual basis to £2.92 billion from £3.19 billion.

Reported net income totaled a loss of £302.0 million, or a loss of 21 pence per share, compared to a loss of £364.0 million, or a loss of 25 pence per share, in the year-earlier period.