Thomas Cook full year profit up

Thomas Cook, Europe's No.2 travel company, reported a 32 per cent rise in full year pre-tax profit and increased its merger synergy target to £215 million by 2010, from 155 million before.

The group, created last year from the tie-up of Arcandor's travel unit and Britain's MyTravel, reported underlying pre-tax profit of £309.3 million for the year to September 30, up from 234.4 million the year before yesterday.

It also said current trading is in line with its expectations, it is confident of prospects for 2008/9 and is targeting operating profit of £480 million for 2009/10.