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Press Release-Results Q4 - FY 14

Board recommends dividend of 20% per share

Mumbai, 30th May 2014: 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, 2014.

FY14 Highlights:
Consolidated
  • Net Sales increased 28% to Rs.2308 crore in FY14 as against Rs 1808 crore in FY13
  • EBITDA stood at Rs. 1,110 crore up by 55% (y-o-y) as compared to Rs. 718 crore in FY13
  • Net profit grew by 54% to Rs. 383 crore as against Rs.248 crore in the corresponding period last year
  • EPS of Rs. 28.07 in the FY14 as against Rs. 18.20 in FY13.
Standalone
  • Net Sales stood at Rs. 419 crore as against Rs 372 crore in FY13
  • EBITDA for the quarter stood at Rs. 207 crore as against Rs. 180 crore in the corresponding period last year
  • PAT stood at Rs. 113 crore as against Rs.54 crore in FY13
Q4FY14 Highlights:
Consolidated
  • Net Sales of Rs.495 crore in Q4FY14 as against Rs 230 crore in Q4FY13
  • EBITDA stood at Rs. 52 crore as compared to Rs. 34 crore in Q4FY13
  • Net profit improved to Rs. (46) crore as against Rs. (49) crore in the corresponding period last year
Standalone
  • Net Sales stood at Rs. 93 crore as against Rs 84 crore in Q4FY13
  • EBITDA for the quarter stood at Rs. 30 crore as against Rs.34 crore in the corresponding period last year
  • Net profit stood at Rs. 14 crore as against Rs.8 crore in Q4FY13

Management Comments:
Peter Kerkar, Director, Cox and Kings Ltd said, “We have had a good year with growth in both domestic and international business. Our aim is to continue improving revenues, profitability and enhance shareholders value. Our tailored product mix to access the fast growing travel segments enables us to leverage the different demands of varied customers”.

Highlights for FY14
  • Cox & Kings has been awarded the official rights to promote hospitality packages for FIFA World Cup 2014, scheduled to take place in Brazil from 12th June to 13th July, 2014. The company has also created a variety of customised land packages to suit the sports-enthusiast.
  • Cox & Kings has launched a brand new range of culinary holidays through MasterChef Travel focussing on the world’s most inspiring cuisines. In the company of popular MasterChef Contestants and local culinary experts, the tour experiences include a combination of cooking demonstrations, visits to attractions covering food & wine as well as authentic cuisine preparations.
Subsidiaries:
PGL
PGL, a subsidiary of Holidaybreak Ltd, is a European Education and Leisure specialist group which expanded their base to Australian markets in FY14, its first international market besides their presence in Europe. The new centre, PGL Campaspe Downs, spread over 200 acres, is located one hour north of Melbourne near the town of Kyneton in the state of Victoria.

Meininger
Meininger, another subsidiary of Holidaybreak Ltd, signed a long term agreement with Amsteltower hotel having 165 rooms and 802 beds. This hotel is a second Meninger hotel in Amsterdam, increasing its footprints in Europe.

Holidaybreak Ltd acquired the remaining 26% stake in Meininger making the leading German hostel and hotel group in Europe, a 100% subsidiary of Holidaybreak. This transaction will pave the way for MEININGER’s international expansion plans across Europe and beyond.

Awards:
India
  • The Outlook Traveller Awards 2014: Favourite Outbound Tour Operator
  • The Outlook Traveller Awards 2014: Favourite Inbound Tour Operator
  • Condé Nast Traveller Readers’ Travel Awards 2013: Favourite Specialist Tour Operator – 1st Runner-Up
  • International Tourism Conclave Travel Awards (ITCTA) 2013: Best Outbound Tour Operator
  • World Travel Awards 2013:India’s Leading Tour Operator
  • World Travel Awards 2013: India’s Leading Travel Agency
  • Hospitality India & Explore the World Annual International Awards 2013: Best Outbound Tour Operator
  • TAAI Travel Awards 2013: Best Inbound Tour Operator
  • CNBC Awaaz Travel Awards 2013: Best Company providing Foreign Exchange in India
Superbreak
  • The Travel Weekly Awards 2013: Best accommodation only supplier
  • The Travel Weekly Awards 2013: Best UK operator
Camping
  • British Travel Awards 2013: Best Medium Holiday Company to Western Europe (Eurocamp)
  • British Travel Awards 2013: Best Medium Holiday Company Family (Eurocamp)
  • British Travel Awards 2013: Best Medium Company Camping and Mobile (Eurocamp)
About Cox & Kings Ltd: (Bse: 533144 | Nse: Cox & Kings)

Cox & Kings Ltd. (CKL) is the longest established travel company in the world since 1758. Headquartered in India, it is the leading holidays and education travel group with operations in 26 countries across 4 continents. In India, Cox & Kings has 168 offices located across the country.

A premium brand in all travel related services, the business can be broadly categorised as Leisure Travel, Corporate Travel, Education & Activity Travel, MICE, Trade Fairs, Visa Processing and foreign exchange.

CKL 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 and is a leading MICE operator out of India. CKL is amongst the major Foreign Exchange providers in the country. 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).

CKL also owns Holidaybreak, an education and activity travel group based in UK. It 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. Among the many awards it has won in 2013 are:
  • ‘India’s Leading Tour Operator’ & ‘India’s Leading Travel Agency’ by the World Travel Awards 2013
  • ‘Best Inbound Tour Operator’ by the TAAI Travel Awards 2013.
  • ‘Best Inbound Tour Operator from UK’ awarded by the Ministry of Tourism, Govt of India (2012-2013)
  • ‘Best Company providing Foreign Exchange Award’ constituted by CNBC Awaaz in 2013
Our camping division, Eurocamp recently won three awards at the annual British Travel Awards.
  • Best Medium Holiday Company to Western Europe
  • Best Medium Holiday Company Family
  • Best Medium Company Camping and Mobile
These awards are based entirely on the results of customer voting

Superbreak, a subsidiary of Cox & Kings’ Holidaybreak Ltd, the European Education and Leisure specialist group, has won two awards from UK’s well known travel magazine, Travel Weekly:
  • Best accommodation only supplier
  • Best UK operator
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), European Tour Operators Association (ETOA), and the Pacific Asia Travel Association (PATA).

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 / Shraddha Shroff
Tel: 91- 22- 67574444