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Thomas Cook warns of 'substantial' savings
Holiday operator Thomas Cook has announced plans to make 'substantial' savings as UK holidaymakers continue to opt for a domestic holiday.
Latest figures from the Office of National Statistics (ONS) found that the number of UK residents travelling overseas during the year ending July 2010 dropped by 10 per cent. It comes off the back from separate research from VisitEngland released earlier this year, which uncovered an 18 per cent rise in the number of adults holidaying in England.
Thomas Cook said ahead of its full year results announcement on 1 December that 'unfavourable' cost experience in the UK is set to impact underlying operating profit by £10m. However, the group said it was 'encouraged' by the number of winter bookings already received for 2010-11, with UK figures up 4 per cent on last year.
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