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Thomas Cook (India) Limited announces strong growth of 65% in PBT in

its Consolidated Results for the Half Year ended June 30, 2014

 

· HY Income from Operations growth of 163%

· Profit Before Tax growth of 65% over the same period 2013

· Consolidated Profit After Tax growth of 50%

 

 

Mumbai July 25, 2014: Thomas Cook (India) Ltd today declared its consolidated Financial Results for

the Half Year ended June 30, 2014 with an increase in Income from Operations of 163% (Rs. 3,933 Mn. to Rs. 10.3 Bn.), Profit Before Tax of over 65% (Rs. 533 Mn. to Rs. 877 Mn.) and consolidated Profit After Tax of 50% (Rs. 339 Mn to Rs. 508 Mn.),as compared to the corresponding Half Year 2013.

 

The diversified Thomas Cook India Group saw strong results with delivery of its core businesses of travel and foreign exchange and via Ikya Human Capital Solutions:

 

Thomas Cook India

· Foreign Exchange, MICE and Domestic businesses displayed a significant revenue growth of 26%, 34%, 113% respectively.

· The Company‟s Foreign Exchange business posted a 53% growth in Earnings Before Tax from Rs 317

Mn. in HY 2013 to Rs 485 Mn. in 2014.

· The Inbound business saw a strong growth in H1 2014, with EBT growth of 37% courtesy delivery from both its Charter and non Charter businesses and contributions from new emerging source markets

· The MICE business delivered impressive EBT growth of 101% in both outbound and domestic segments

 

Ikya Group

· At the Ikya Group level, the QTD Revenue has grown by 27% and EBITDA by 144% compared with same Quarter last year.

· Acquisition of 100% equity stake in industrial asset management company Hofincons Infotech and Industrial Services from Transfield Services Australia for ~Rs 500 Mn.

· The Company reported QTD earnings before tax of ~Rs 200 Mn.

 

 

Commenting on the Results, Mr. Madhavan Menon, Managing Director, Thomas Cook (India) Ltd. said, “H1 2014 has seen significant business growth across the diversified Thomas Cook India Group, with an overall revenue increase of 163%;. IKYA delivering strong Quarter Results- a 27% increase in Revenue and an impressive 144% growth in EBITDA.

He added, “The new Government’s pro-tourism focus and the strategic tourism initiatives including

infrastructure and technology via Budget 2014-15, augur well for our travel and foreign exchange

businesses; the announcement of eVisas giving a further fillip to the upcoming Inbound season.

With strong economic indicators and increasing consumer optimism, we look forward to an impactful

FY 2014 for the Thomas Cook India Group!”

 

About Thomas Cook (India) Limited:

Thomas Cook (India) Ltd (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business. The company set up its first office in India in 1881.

TCIL‟s footprint currently extends to over 235 locations (including 17 airport counters) in 99 cities across India, Mauritius & Sri Lanka and is supported by a strong partner network of 111 Gold Circle Partners and 165 Preferred Sales Agents in over 150 cities across India.

ICRA has reaffirmed long term rating of „ICRA AA-/ Stable‟ assigned to Thomas Cook (India) Ltd‟s non convertible debenture programme.

 

CRISIL has reaffirmed long term rating of CRISIL AA-/ stable outlook to the non convertible debenture programme and banking facilities and short term rating of CRISIL A1+ to TCIL‟s banking facilities.

 

Thomas Cook (India) Ltd has been voted Best Tour Operator at the Lonely Planet Travel Awards 2013, Favourite

Specialist Tour Operator at the Condé Nast Traveller Readers' Travel Awards 2013 & 2012 and Best Tour Operator - Outbound at the CNBC AWAAZ Travel Awards 2013. In addition, TCIL has been chosen as the Best Corporate Travel Management Company by World Travel Brands 2012, and recognized as a “Consumer Superbrand” 2012-2013. At the National Tourism Awards 2012-2013, TCIL was the recipient of 3 prestigious awards. Thomas Cook India‟s Centre of Learning has received IATA accreditation as “Top 10 South Asia IATA Authorized Training Centers”, 2013 & 2012.

 

For more information, please visit http://www.thomascook.in

 

Thomas Cook (India) Limited is promoted by Fairfax Financial Holdings Limited through its wholly-owned subsidiary, Fairbridge Capital (Mauritius) Limited. Fairbridge is responsible for the execution of acquisition and investment opportunities in the Indian subcontinent on behalf of the Fairfax family of companies.

 

About Fairfax Financial Holdings Limited:

Fairfax Financial Holdings Limited is a Toronto-based financial services holding company with a global presence in insurance and reinsurance and a portfolio of assets in excess of $38 billion invested worldwide. The Company, founded in 1985 by the present Chairman and Chief Executive Officer, Prem Watsa, has over the past 25 years, demonstrated a strong financial track record to achieve an annual appreciation in Book Value per Share of 24.7% annually.

 

Fairfax has almost 20 general insurance subsidiaries and joint ventures globally, including ICICI Lombard (India).

 

Fairfax is engaged in long term investments from its own resources, with a focus to delivering long term capital appreciation through a flexible and value oriented approach.

 

Fairfax Financial Holdings through Thomas Cook (India) Ltd. owns 74.85% on a fully diluted basis of the IKYA Group, a provider of specialised Human Resource related Services.

 

About IKYA Group

The IKYA Group, established in 2007, has over the last 6 years, evolved into a diversified provider of Business Services with interests in Human Resources (Recruitment & General Staffing), IT Staffing & Services, Facilities Management, Food & Hospitality services and Training & Skill Development through a combination of organic and inorganic methods. The Group operates out of 33 offices across 22 cities and employs 80,000 personnel.

 

About Sterling Holiday Resorts (India) Limited:

Sterling Holiday Resorts (India) Limited, a pioneer in vacation ownership and a leading leisure hospitality company in India, was incorporated in 1986 with the vision of delivering great holiday experiences to Indian families. Sterling Holidays‟ network includes 1512 rooms across 19 resorts in 16 scenic holiday destinations pan India. The company also has 15 additional sites where it plans to add new resorts in the coming years. For more information visit: www.sterlingholidays.com

 

For Media Enquiries please contact:

Thomas Cook (India) Limited

Suzanne Pereira –D: +91-22-66091380; M: +91-9820297665; http://suzanne.pereira@in.thomascook.com

 

Perfect Relations

Ritika Arora M: +91-9820910855 http://rarora@perfectrelations.com