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Press Release-Results Q2 - FY15

Cox and Kings Ltd net revenues (excluding discontinued operations) up 12%


Mumbai, November 14th 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 second quarter FY 15 (November 14th), 2014.

Q2FY15 Highlights:

Consolidated
  • Net Sales up by 12% to Rs. 604 crore as against Rs. 541 crore in Q2FY14.
  • EBITDA (excl. forex gain / loss) stood at Rs. 281 crore increased by 8% (y-o-y) as compared to Rs. 261 crore in Q2FY14.

Standalone
  • Net Sales stood at Rs. 100 crore as against Rs 85 crore in Q2FY14
  • EBITDA (excl forex gain/loss) for the quarter up by 17% to Rs. 46 crore as against Rs.39 crore in the corresponding period last year
  • PAT stood at Rs. 31 crore as against Rs.16 crore in Q2FY14

H1FY15 Highlights:

Consolidated excluding the discontinued operations of camping division:
  • Net Sales up by 21% to Rs. 1,253 crore as against Rs.1,040 crore in H1FY14
  • EBITDA (excl. forex gain/loss) up by 21% (y-o-y) to Rs. 604 crore as compared to Rs. 499 crore in H1FY14

Standalone
  • Net Sales up by 15% Rs. 266 crore as against Rs 231 crore in H1FY14
  • EBITDA (excl. forex gain/loss) for the quarter stood at Rs. 148 crore as against Rs. 128 crore in the corresponding period last year
  • PAT stood at Rs. 91 crore as against Rs. 81 crore in H1FY14

Cox & Kings operates across two major travel categories – Leisure Tours and Education Travel. Below is a breakup of the revenue and EBITDA for H1 FY15 across the these travel categories –

(Figures in INR Cr)
  Net Revenue
  H1FY15 H1FY14 % growth Q2FY15 Q2FY14 % growth

Leisure

573 520 10% 287 267 8%

Education

452 366 23% 199 181 10%

Meininger

193 145 33% 95 87 9%

Others

35 9 302% 23 6 291%

Total excl Camping

1253 1040 21% 604 541 12%

Camping

353 356 3% 263 277 5%

Total incl Camping

1606 1405 14% 867 818 6%

  EBITDA (excl. forex gain/loss)
  H1FY15 H1FY14 % growth Q2FY15 Q2FY14 % growth

Leisure

257 244 6% 129 127 2%

Education

268 202 33% 114 96 19%

Meininger

94 65 43% 49 42 17%

Others

(15) (11) 39% (11) (4) 183%

Total excl Camping

604 499 21% 281 261 8%

Camping

201 231 -13% 173 192 -10%

Total incl Camping

805 730 10% 454 453 0%

Management Comments:
Peter Kerkar, Director, Cox and Kings Ltd said, “Our businesses continue to grow in line with our expectations. Our India operations and Education Travel division has performed well and has been key driver of our revenue and profitability growth.”

Highlights for FY15
  • Awards won by Cox & Kings:
    - “Best Inbound Tour Operator, Western India” by India Travel Awards on 25th July 2014.
    - “India's Leading Travel Agency 2014” awarded by the World Travel Awards
    - “Best Outbound Tour Operator 2014” by the 10th Hospitality India and Explore the World annual international awards.

  • MTDC appointed Cox & Kings as an outsourced partner to run the operations of Deccan Odyssey
***

About Cox And 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.

Over the years the company has won many awards that stand testimony to its excellent service. Recent awards include “Favourite Outbound Tour Operator” awarded by the Outlook Traveller Awards 2014 to Cox & Kings India, “India’s Leading Tour Operator” & “India’s Leading Travel Agency” awarded by the World Travel Awards 2013, “Best UK operator” awarded by The Travel Weekly Awards 2013 to Superbreak, “Best Company providing Foreign Exchange in India” awarded by the CNBC Awaaz Travel Awards 2013.

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 media details, contact:
Cox & Kings Ltd
Mr. Thomas C Thottathil
AVP – Corporate Communications
thomasct@coxandkings.com
Tel: 91-22-22637500
Adfactors PR, Mumbai
Neha Goenka/ Nupur Maheshwari
Tel: 91- 22- 67574444