Travel giant expected to show strong results

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The Independent Online

Travel giant TUI Travel, owner of Thomson, and Thomas Cook, are expected to post strong numbers this week despite the downturn and to report a last-minute dash for sun and snow.

Thomas Cook's pre-tax profits are likely to come in at around £310m, according to the broker Charles Stanley, roughly the same as last year. The package operator will update shareholders on plans for refinancing a €1.1bn loan. TUI's full year results on Tuesday will show strong performance in the UK and Germany through a difficult period for the industry with pre-tax profits of around £365m, up from £320m last year.

Software giant Sage will also give shareholders an update on trading on Wednesday when analysts will want to know more about the performance of the company's US business. The division has been hard hit by the collapse of small businesses in the downturn. High street lenders Halifax and Nationwide will release their latest house price data. Nationwide is expected to show the seventh increase in as many months. The Bank of England will release October's mortgage approval figures tomorrow.

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