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Press Release-Results Q1 - FY 12

Cox & Kings Limited
Q1FY12 consolidated income from operations grew by 28% to Rs 157 crore

Mumbai, August 12th, 2011: Cox & Kings Ltd., the world’s longest established travel company, today announced its financial results for the first quarter ended June 30th, 2011.

Consolidated Position:
Consolidated Income from operations for the first quarter ended June 30th, 2011 was at Rs 157 crore, as compared to Rs 123 crore posted in the corresponding period of the last fiscal (Q1FY11), registering a growth of 28%.

Net profit stood at Rs 38 crore as compared to Rs 25 crore posted in the corresponding quarter of last fiscal, indicating a growth of 51%.

The EBITDA for Q1FY12 was at Rs 72 crore as against Rs 59 crore in Q1FY11, registering a growth of 22%. The EBITDA margin for Q1FY12 stood at 46% as against 48% in Q1FY11. The Earnings per share (EPS) stood at Rs 2.79 as compared to Rs 2 in the corresponding period of last quarter.

Management Comments:
According to Peter Kerkar, Director, Cox & Kings Ltd, "we continue to grow at a robust pace and we believe that all our offices have played a role in generating demand and tapping new markets to drive this growth."

Major Developments:
The boards of Cox & Kings Ltd (CKL) and Holidaybreak plc have reached agreement on the terms of a recommended cash acquisition by Prometheon Holdings (UK) Ltd, a wholly owned subsidiary of CKL, of the entire issued and to be issued share capital of Holidaybreak plc.

Cox & Kings Ltd. (CKL)—founded in 1758-- is the longest established travel company in the world. Headquartered in India, it is a premium brand that caters to the overall travel needs of the Indian and International traveller.

Cox & Kings operates in 20 countries through branch offices, subsidiaries, representative offices, franchised sales shops as well as through our global network of sales agents.

The company has 13 branch sales offices in India located in Mumbai, New Delhi, Chennai, Kolkata, Bangalore, Hyderabad, Ahmedabad, Jaipur, Kochi, Pune and Goa. The company has appointed over 150 franchisees across 20 states covering 70 cities. The company’s extensive network of 185 GSAs and PSAs covering all major towns and cities of India enhances its reach.

Cox & Kings has subsidiaries in UK, Japan, Australia, New Zealand, UAE, USA, Singapore, Hong Kong, Greece & Germany; branch offices in New York, Moscow, Taiwan, Maldives & Tahiti; & representative offices in Spain, Germany, Italy, France, South America, Sweden and South Africa.

The company owns Tempo Holidays Australia, East India Travel Company in North America, ETN in the UK and Quoprro Global Services Pvt Ltd,(visa processing). In December 2009 it also acquired MyPlanet Australia Pty Ltd and Bentours International Pty Ltd in Australia.

Cox & Kings is amongst the largest players with its range of specialist options. Innovative packaging, pricing and marketing have been the hallmarks of its success over the years. Among its many products are Leisure Travel- Domestic (Bharat Deko), Inbound & International, Corporate Travel, MICE, Trade Fairs, Visa Processing and Foreign Exchange. The Outbound Tours is segregated into Duniya Dekho (escorted tours), FlexiHols (customised tours), Luxury Escapades (unique & luxurious travel) & NRI (catering to Indians across the world).

Over the years the company has won many awards. In October 2010, it was voted India's Leading Destination Management Company by the World Travel Awards 2010. The company received in September 2010, the CNBC Awaaz Travel Award 2010 for "Taking India Global". Cox & Kings was awarded the "Best Outbound Tour Operator" by Hospitality India and Explore the World Annual International Awards 2010. In January 2010 it was awarded the Most Admired Tour Operator by SATTE. Cox & Kings has also been awarded First Runner up in the Best Large Tour Operator category awarded by the Telegraph Ultra Travel luxury survey UK 2010. CKL is one of the founding members of the World Travel and Tourism Council (WTTC), and are members of premier industry associations namely the Travel Agents Federation of India (TAFI), the Travel Agents Association of India (TAAI), Indian Association of Tour Operators (IATO), and the Pacific Asia Travel Association (PATA).

For further details on this release, please contact:
Mr. Thomas C Thottathil
Head - Corporate Communications
Cox & Kings Ltd
Tel: 91-22-22637500

Ms Neha Geonka / Shrinkhala Varma
Adfactors PR
Tel: 022-22813565