Tour company Thomas Cook warns on profits

LONDON — Shares in tour company Thomas Cook have lost two-thirds of their value after the company issued a profit warning and said it was seeking new agreements with its principal banks, barely a month after announcing a renegotiation of its funding.

Thomas Cook Group PLC shares were down 67 percent at 13.67 pence in late morning trading, after falling as low as 10.17 pence earlier in the session.

Analyst James Hollins at Evolution Securities said “legitimate questions will be asked as to whether Thomas Cook can survive long-term.”

Thomas Cook announced that it was postponing publication of its full-year results “as a result of deterioration of trading in some areas of the business.”