Travel group Thomas Cook trims loss
This marks a modest improvement from a loss of 66 million in the equivalent period of 2012.
LONDON (AFP) - Thomas Cook trimmed losses in its first quarter as deep cost-cutting offset a fall in sales caused by political turmoil in Egypt, the British travel group said on Tuesday.
Losses before interest payments and tax narrowed to 56 million ($92 million, 67 million Euros) in the three months to the end of December last year, the company said in a statement.
That marked a modest improvement from a loss of 66 million in the equivalent period of 2012.
Total sales eased 0.9 percent to 1.7 billion in the reporting period.
"The whole European travel industry was hit by the decline in the Egypt market and we were no exception," chief executive Harriet Green said in a conference call with journalists.
"We are very encouraged to see people beginning to return, particularly from the UK, Germany and Russia."
- Dow Jones Newswires contributed to this report -
