Thomas Cook Profits Jump 49%

The world’s oldest travel firm has posted full year profit results to the end of September 2013 at £263m.

The group had suffered from a sales slump over the last two years, hit by the euro zone crisis, high fuel costs and political turmoil in popular holiday destinations.

CEO of just 16 months, Harriet Green, has turned the business around following a series of job cuts, store closures and disposals in order to slash debt from £788m to £421m.

Green confirms the company is on track for profitable growth in the coming years, pledging profits to be boosted by £5m over the next 3 years.