The tour operator says more people are staying at home rather than booking last-minute holidays.Read more
Thomas Cook Group
The heatwave might have put people off travelling abroad for holidays but it hasn't put investors off Thomas Cook's shares which are up 3% at 99.8p.
The group said sales grew by 10% to £2.4bn in the three months to June, driven by strong demand for holidays in Turkey and North African destinations such as Egypt.
Underlying profits rose by 8% to £14m.
Chief executive Peter Fankhauser, says a strong performance from its airline business "has helped to offset a slowdown in package holiday bookings in recent weeks with customers across our European markets delaying decisions about their summer holidays as they enjoy the record temperatures at home.
"It's clear that we remain in a competitive environment, particularly in the UK where the growth in popularity of higher-margin destinations like Turkey and Egypt has not fully offset the continued pressure on margins to Spanish holidays."
Welcome to Business Live and a very busy day for company results.
Energy giants BP and British Gas-owner Centrica are reporting their financials this morning - Centrica's boss Iain Conn is on Radio 4's Today programme at around 7.15am.
Mining and commodities groups Glencore and Fresnillo will also reveal their latest figures.
Housebuilder Taylor Wimpey and building supplies firm Travis Perkins will give snapshots of the property market while holiday group Thomas Cook and baker Greggs will also publish updates.
We’ll also get the first results from the banking groups, in this case Standard Chartered. Barclays, Lloyds and RBS report later this week.
As always, we'd love to hear from you. Email us at email@example.com
At the beginning of the 21st Century, 110,000 young British people were going on Club 18-30 holidays each year, bringing in £48m in sales annually.
But less than two decades on, the brand's appeal is waning, with parent company Thomas Cook admitting it is open to selling.
Thomas Cook blames the rise of "ego travel" and Instagram for driving young people away from cheap package clubbing holidays and towards more photogenic travel opportunities.
More than half of 18-24 year olds asked in the report said they considered potential social media posts when booking a holiday.