Thursday preview: Bumpy flight to continue for Thomas Cook

28th Sep 2011 17:43

If profit warnings are like London buses in the rush hour, and tend to come in threes, then shareholders in Thomas Cook can sit comfortably ahead of the package tour operator's trading update on Thursday, because the group has already had its 'allotted' three warnings over the last year.The performance of perennial rival TUI Group cannot be viewed as an entirely reliable guide, as TUI has navigated choppy waters more adroitly than Thomas Cook this year, but some comfort can be drawn from TUI's statement last week that it has seen a strong finish to the summer season, while trading for winter 2011/12 was said to be "satisfactory overall".Numis Securities is not anticipating too much sunshine in the pre-close statement, however, given that economic conditions have continued to get worse since July. With "little financial headroom to fund further significant cash rationalisation costs", Numis expects Thomas Cook's focus will be on selling assets to reduce its debt mound.The company announced last week that Belgian Frank Meysman will take over as company chairman when current chairman Michael Beckett retires at the beginning of December, but the company is still looking for a chief executive, after Manny Fontenla-Novoa stepped down abruptly at the beginning of August. INTERIMSAtlantic Global, GVC Holdings, Inditherm, Ryanair Holdings, Scisys, SeaEnergy, Sound OilINTERIM DIVIDEND PAYMENT DATEBaronsmead VCT 3, Baronsmead VCT 4, Baronsmead VCT 5, Low & Bonar, Reckitt Benckiser Group, SchrodersINTERNATIONAL ECONOMIC ANNOUNCEMENTSRetail Sales (JPN)PMI Retail (GER) (08:55)Unemployment Rate (GER) (08:55)PMI Retail (EU) (09:00)Economic Sentiment Indicator (EU) (10:00)Business Climate Indicator (EU) (10:00)Gross Domestic Product (Final) (US) (13:30)Initial Jobless Claims (US) (13:30)Continuing Claims (US) (13:30)Bloomberg Consumer Confidence (US) (14:45)Pending Homes Sales (US) (15:00)Kansas City Fed Manufacturing Activity (16:00)GMSLiontrust Asset ManagamentFINALSHelphire GroupSPECIAL DIVIDEND PAYMENT DATEHargreaves LansdownAGMSAccumuli , AEA Technology Group, Ashcourt Rowan, ASOS, Dhir India Investments, Emerging Metals Ltd. (DI), Fiske, Gasol, Iomart Group, Max Petroleum, Redstone, Ryanair Holdings, Strathdon Investments, Warner Estate HoldingsTRADING ANNOUNCEMENTSThomas Cook GroupUK ECONOMIC ANNOUNCEMENTSConsumer Credit (09:30)M4 Money Supply (09:30)M4 Sterling Lending (09:30)Mortgage Approvals (09:30)FINAL DIVIDEND PAYMENT DATEBaronsmead VCT, Baronsmead VCT 2, BHP Billiton, Downing Distribution VCT 'D' Shares, Downing Distribution VCT 2 , Fletcher King, Hargreaves Lansdown, Immunodiagnostic Systems Holdings