Thomas Cook profit

LONDON: British travel operator Thomas Cook on Wednesday posted its first annual net profit for five years, despite the impact of terror attacks in Tunisia, thanks to cost-cutting efforts. Net profit, earnings after taxation, stood at £23 million in the 12 months to the end of September, Thomas Cook said in a results statement. That contrasted with a net loss of £118 million in group’s previous financial year. Turnover slid nine per cent to £7.8 billion, but rose by one per cent on a comparable basis. The group had warned in July that terror attacks in Tunisia and fallout from Greece’s economic crisis would affect its annual results. The Tunisia attacks cost the group £130 million in sales during 2014-15 financial year.