For the first time since 2010, Thomas Cook has posted a full-year operating profit, thanks to the ongoing success of its recovery plan that has cut debt, shed staff and sold no-core assets. Revenues were 1% higher at £9.3bn, while earnings before interest and tax were £13 million, compared with a loss of £170 million last year. Underlying operating profit rose 48.6% to £263 million, which exceeded a company supplied consensus forecast of £251 million. The group raised £431 million via a rights issue that formed part of a £1.6bn capital restructuring earlier this year. Net debt was £421 million

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