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Press Release-Results Q4 - FY13

Cox & Kings Ltd – Earnings Update Q4FY13



Mumbai, 30th May 2013: Cox & Kings Ltd the leading holidays and education travel group having operations in 26 countries across continents today announced its financial results for the fourth quarter and full year ended March 31st, 2013.

FY13 Highlights:

  • Consolidated Net Sales stood at Rs. 1808.73 crore as against Rs. 837.93 crore in FY13 and standalone Net Sales stood at Rs. 372.27 crore as against Rs. 295.78 crore in the corresponding period last year
  • Consolidated EBITDA at Rs. 722.48 crore as against Rs. 167.30 crore and standalone EBITDA at Rs. 186.37 crore as against Rs. 143.93 crore in FY12. Consolidated EBITDA does not include the share of profits from Meininger of Rs.40.34 crore.
  • Consolidated PAT at Rs. 248.42 crore as against Rs.41.59 crore and standalone PAT at Rs. 53.38 crore as against Rs. 77.69 crore in FY12
  • Consolidated EBITDA margin for full year is at 40% and standalone EBITDA margin is at 50%
  • Consolidated EPS for the period is at Rs. 11.17 as against Rs. 3.05 in the corresponding period last year


Q4FY13 Highlights:

  • Consolidated Net Sales stood at Rs.230.61 crore as against Rs 260.83 crore in Q4FY12 and standalone Net Sales stood at Rs. 84.65 crore as against Rs 80.68crore in Q4FY12
  • Consolidated EBITDA stood at Rs. 47.64 crore as against Rs.20.35 crore and standalone EBITDA stood at Rs. 38.92 crore as against Rs.43.47 crore the corresponding period last year
  • Consolidated PAT at Rs. (49.34) crore as against loss of Rs.(16.10) crore.
  • Consolidated EPS for the period is at Rs. (8.07) as against Rs.(1.97) in FY12
The Board has recommended payment of final dividend of 20% (Re. 1/- per equity share of Rs. 5/- each) for the financial year 2012-13, subject to the approval of Shareholders at the Annual General Meeting,

Management Comments:

Peter Kerkar, Director, Cox and Kings Ltd said, “Our performance in FY13 has been in line with our expectation. Indian operations have continued to post strong set of numbers and we expect this trend to continue in FY14. Our Education business continues to demonstrate robust performance. Meininger, our hotel brand for student tour groups and young urban travellers, has expanded well through new hotel openings and growth in existing hotels. The Camping division has performed well by keeping tight control on costs.”

He further added, “The HBR businesses have been completely integrated with the C&K Group and we have seen initial success in achieving synergies through the acquisition. We expect this momentum to pick up significantly in FY14.”

About Cox And Kings Ltd: (Bse: 533144 | Nse: Cox&Kings)

Cox & Kings Ltd. is the longest established travel company in the world since 1758. Headquartered in India, it is a premium brand in all travel related services.

Cox & Kings operates across 4 continents and 25 countries. In India, Cox & Kings has 12 branch sales offices and 150 Franchisee located across the country.

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.

In India, the company has a robust domestic business under the brand name Bharat Deko. Its Corporate Travel division services over 200 corporate clients, including major domestic and multinational companies. The company also specialises in Trade Fairs and is a leading MICE operator out of India.

Cox & Kings is amongst the major Foreign Exchange providers in the country, placing it in league with Authorized Dealers like Foreign Exchange Nominated Banks to cater to the requirements of a whole host of customers. It has recently been granted permission to operate Nostro Accounts.

The Outbound Tours are segregated into Duniya Dekho (escorted tours), FlexiHols (customised tours), Luxury Escapades (unique & luxurious travel) & NRI (catering to Indians across the world).

Cox & Kings Ltd acquired in 2011, Holidaybreak, an education and activity travel group that has more than 15 long-established and widely recognised brands. Holidaybreak provides educational and activity trips for school children; worldwide adventure holidays; short breaks in the UK and Europe & mobile-home and camping holidays on sites throughout Europe.

Over the years the company has won many awards that stand testimony to its excellent service. Recently, the company has been conferred with "Best Outbound Tour Operator 2012" awarded by CNBC Awaaz; 'Best Outbound Tour Operator' awarded by Hospitality India & Explore the World Annual International Awards 2012; Best Travel Company for 2012 and the Best Domestic Tour Operator by the Travel Agents Association of India (TAAI); Best International Tour operator for Wildlife of the Year 2012 by The Travel Operators for Tigers (TOFT); 'Best Luxury Operator' at the 2012 Globe Travel Awards & PATA Gold Award 2012 in the Marketing Media - Consumer Travel Brochure (BR) category for its entry, "Luxury Escapades".

For further details on this release, please contact:

Cox & Kings Ltd
Mr. Thomas C Thottathil
AVP - Corporate Communications
thomasct@coxandkings.com
Tel: 91-22-22637500
Adfactors PR, Mumbai
Neha Goenka/ Shrinkhala Varma
Tel: 91- 22- 67574444