Recent Acquisitions, New Launches Drive Robust All Round Business Growth
H1 CY07 income from operations higher by 96%*, PAT up 157%*
Q2 CY07 income from operations rises 115%*, PAT increases 532%*
Mumbai, August 21, 2007:
Strong performance across all businesses enabled Thomas Cook (India) Limited, a leading travel solutions player in the country, to deliver impressive financial and operating results for the quarter and half year ended June 30, 2007. H1 CY07 income from operations has increased 96% to Rs 1,378 million while PAT has grown 157% to Rs 189 million. Sales in Q2 CY07 have improved 115% to Rs 780 million and PAT has increased 532% to Rs 115 million. EPS for H1 CY 07 is Rs.1.0 as compared to Rs.0.5 for H1 CY 06.
The growth is a reflection of the tremendous business opportunity the Company enjoys going forward. This improvement has been contributed by healthy performance by all the Companys key businesses namely travel, forex and financial services.
Commenting on the performance of the company, Mr. Madhavan Menon, Managing Director, Thomas Cook (India) Ltd said, "These results are a reflection of the success of our business strategy. With the consolidation of LKP Forex & TCI completed, the synergy benefits have started to reflect in the numbers. Further we have received an overwhelming response to our new initiatives & products. These factors have resulted in such phenomenal growth. I am sure the company will continue to grow in similar fashion for the remainder of the year thus maximizing returns to our shareholders and providing our customer most unique & innovative product."
During the current calendar year Thomas Cook (India) has undertaken various initiatives that have been firsts in the travel industry; this included the launch of Thomas Cook Titanium MasterCard, launch of the franchisee program Thomas Cook Gold Circle and introduction of innovative products such as U-special. More recently the company announced its plan to enter into the online travel segment with the launch of a travel portal. Thomas Cook (India) today is one of the largest players providing integrated travel services with market leadership in foreign exchange and inbound travel segment.
* Note: The previous year represent published first half (six months ending April 30th 2006) & second quarter (three months ending April 30th 2006) numbers of the previous year
About Thomas Cook (India) Limited
Thomas Cook (India) offers a broad spectrum of leisure travel-related services such as package tours, currency exchange and travel insurance as well as hotel and flight reservations. Thomas Cook has been present in India for over 125 years and operates a total of 200 offices at various locations in the country and has operations in Sri Lanka & Mauritius. It employs close to 3,000 staff and generated revenue of (annualized) Rs. 234.7 crores in the 2005 - 06 financial year. The company was acquired by Dubai Financial LLC in 2006.
For further information please contact:
Ms. Kruti Sharma
Thomas Cook (India) Ltd.