Trading woes: Thomas Cook India shares tank by 9.6% | business | Hindustan Times
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Trading woes: Thomas Cook India shares tank by 9.6%

business Updated: Nov 22, 2011 21:16 IST
HT Correspondent

Shares of Thomas Cook (India), the country's largest travel services provider, fell by 9.6% to close at Rs 39.9 after the company's UK parent, Thomas Cook Group, (TCG) issued a statement to the London Stock Exchange (LSE) that its cash and liquidity positions had deteriorated due to seasonal factors.

"Thomas Cook Group plc announces that as a result of deterioration of trading in some areas of the business in the current quarter, and of its cash and liquidity position since its year end, the company is in discussions with its principal lending banks with regard to its facilities during the seasonal low period of cash in the business," the statement said.

The company, which had earlier stated that its results for the year ended September 30 would be announced on November 24, has now delayed the announcement.
"The company will delay its announcement of its full year results until these discussions are concluded," the statement added. It also said that it expected its profits to be in line with its previous guidance.

Shares of TCG fell nearly 68% on the LSE.