The group had anticipated losses rising, due to the impact of the political situation in Egypt and Tunisia, and the shift of the Easter bank holiday to the second half of its financial year.
The travel operator recorded a 4% increase in revenue to £3,431m, stating that summer trading is strong across continental and northern Europe, while the UK faces a tougher trading environment.
Manny Fontenla-Novoa, chief executive, Thomas Cook Group, said: "As expected, first half trading was impacted by the timing of Easter and the unrest in the MENA region, but despite the difficult UK trading environment in the first half, we have contained the seasonal loss and kept our focus on cash flow.
"Our continental and northern European businesses have performed well, supported by an improving economic backdrop.
"Whilst results in our UK business are likely to be below last year’s levels and the Middle East and Northern Africa (MENA) situation remains uncertain, our continental and northern European businesses are performing well and summer booking levels are encouraging. Therefore, we remain well positioned to make progress for the year."
In December last year, Thomas Cook recorded a 6% drop in profits, resulting in a restructure of its UK business that saw the loss of 500 jobs. The company expects the move to deliver annualised savings of £40m to £50m from the next financial year.
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