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UK companies snapshots: BG Group (LON:BG) Agreement, Thomas Cook (LON:TCG) Final Results

BG Group Agreement. A deal has been reached with the Republic of Kazakhstan and the contracting companies in the Karachaganak gas-condensate field that will support further development of the field. BG will remain as joint operator with Eni.

Thomas Cook Final Results saw revenues rise 10% (8% at constant currency) to £9.8bn but exceptional charges of £573m resulted in a loss before tax of £398m (2010: £42m profit). Implementation of a UK turnaround plan is underway and a cautious stance on winter capacity is being taken in the UK, Central and West & East. It will be starting a strategic review that will consider further actions to accelerate the rate of  debt reduction at the company.