Thomas Cook profits plunge £1.5 billion

Holiday provider Thomas Cook has posted a £1.5 billion half-year loss in its latest financial results, which the group has blamed on Brexit uncertainty. This is a significant increase, in its results for the six months to 31 March 2019, when compared to the £303 million loss in the same period a year ago. Thomas Cook’s underlying earnings before interest and tax loss increased to £245 million, up nearly £80 million from the same period last year when it posted £170 million. Revenue during the period dropped to £3 billion from £3.2 billion and net debt rose to £1.25 billion