Thomas Cook in new profits warning after 'disappointing' year

Shares fall to lowest since 2012 as it says profits are likely to be £30m lower then expectedShares in Thomas Cook plunged on Tuesday after the travel firm issued its second profits warning in two months, blaming a “disappointing” year on the prolonged summer heatwave across Europe.Thomas Cook shares fell 29% to 34p, the lowest since 2012, after it said underlying profits for 2018 were now expected to be £250m – £30m lower than it was expecting two months ago.