Thomas Cook unveils £328 million loss

TRAVEL firm Thomas Cook announced £300 million of losses today after admitting its brand was hit by its near-collapse last year.

But the company said initiatives will boost UK profits by £140 million over the next three years.

Underlying pre-tax losses rose 41% to £328.3 million in the seasonally quieter six months to the end of March, although these had been signalled in a recent circular to shareholders.