TCG – Thomas Cook – deeper in the hole

Just took a look at Thomas Cook’s accounts, as published on Sharelock Holmes a couple of days ago.

At 18-Dec 2011, the accounts looked bad, but I thought that there was some chance that it would pull through. Alas, results seem to have deteriorated. Net debt has gone from 891m to 1390m. a year ago the net debt was 1094m. Net cash (out)flow has deteriorated, too, from -168m for the interims published on 09-May-2011, to -480m on 31-May-2012.

Things seem to have gone from bad to worse, and it looks to be hanging by a thread. Not good. Looks like my parents’ holiday will be safe, though.

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About mcturra2000

Computer programmer living in Scotland.
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