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Thomas Cook reports £521mn loss

Thomas Cook Group Plc, the U.K. tour operator that negotiated an emergency bank loan at the end of last month, reported an annual net loss of £521 million and said it expects another “challenging year.”

The company’s performance in the first half of fiscal 2012 will be affected by the uncertain economic climate across Europe, input cost inflation and disruption in the Middle East and North Africa, Thomas Cook said today in a statement. Exceptional charges in the year ended Sept. 30 were £573 million, the company said.

Source: www.bloomberg.com