What is this I hear?
A major UK tour operator is reported:
1. As running into increasing liquidity problems
2. To have issued a profits warning
3. As refusing to make a 2003 trading forecast
4. This has led to shares dropping by 16%
5. To be the slowest holiday giant out of the starting blocks this year
6. To be 30% down on last years sales
7. As having net debts of 4bn
8. With off-balance sheet liabilities of a further 6bn
9. Has a 2bn loan due for repayment NOW and also has
10. A 550m convertible bond, up for refinancing next year
AND THE NAME OF THIS COMPANY?
I'll give you a clue, shall I?
It's one word, two syllables; seven letters
have you guessed yet?
That's right; we all know that this report can be describing only one company!
Don't we?
Of course, the name is
THOMSONS!!!!!!!! Who else could I have been referring to?
Makes the situation for MT look positively rosy
I do hope the CAA & the Dept. of Transport are happy with the situation, especially with the imminent renewal of their ATOL licence.
Its about time our mates in the business media started doing their jobs properly and tell the truth for a change. All this startling news certainly puts things with MT into a different perspective.
Sleep well, folks, I think this could be a very real turning point for MT
"'tis better to MyTravel in hope than arrive at the grim truth with Thomson"
If you want to check on how your company is doing go to
www.companieshouse.co.uk and follow the instructions. You will need your company number and be prepared to pay about £5.00 for your companies results. You will be able to compare 2001 against 2002. You will see how your company is doing and the remuneration the Directors pay themselves. Very enlightening.