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| Version 1 | Version 2 |
|---|---|
| Thomas Cook shares plunge on profit warning | Thomas Cook shares plunge on profit warning |
| (about 9 hours later) | |
| Shares in Thomas Cook have fallen 28% in London trading. | |
| It comes after the travel company issued a warning that profits would be hit by unrest in the Middle East and North Africa, and by weak UK spending. | It comes after the travel company issued a warning that profits would be hit by unrest in the Middle East and North Africa, and by weak UK spending. |
| Europe's second-largest travel firm said continuing political unrest had affected bookings to destinations such as Tunisia, Egypt and Morocco. | Europe's second-largest travel firm said continuing political unrest had affected bookings to destinations such as Tunisia, Egypt and Morocco. |
| It also said the profitability of its UK business had been hit by the "squeeze" on consumer spending. | It also said the profitability of its UK business had been hit by the "squeeze" on consumer spending. |
| It now expects annual operating profits of £320m, against forecasts of £380m. | It now expects annual operating profits of £320m, against forecasts of £380m. |
| It said the Arab Spring had caused more disruption to business than previously expected, and had been particularly painful for bookings by French customers. | It said the Arab Spring had caused more disruption to business than previously expected, and had been particularly painful for bookings by French customers. |
| Meanwhile, the firm said that it had asked management of its UK business to begin "a fundamental strategic and operational review" in light of poor trading. | Meanwhile, the firm said that it had asked management of its UK business to begin "a fundamental strategic and operational review" in light of poor trading. |
| Shares in the firm fell 34.85 pence to close at 87.85p. |