Thomas Cook (India) posted a decent set of earnings keeping the business environment in mind. In an interview to CNBC-TV18, Madhavan Menon, Chairman and MD, Thomas Cook spoke about the results and his outlook for the company.
Thomas Cook on a standalone basis has done extremely well, the business grew by 31 percent growth on the bottomline on the back of a strong quarter for both foreign exchange as well as the outbound travel, he said.
The outbound travel saw 23 percent growth in terms of existing business and forward bookings are growing at 19 percent over last year, he added.
This is still in the middle of the season so he expects both leisure travel and foreign exchange will continue to clock a good running rate in the coming quarters as they did in the last quarter, said Menon.
SOTC had a decent year. Sterling Holiday Resorts saw a slow pick up post demonetisation. However the numbers are slowly climbing up again, he further mentioned.
He expects holiday sales to continue to pick up and will return to profitability in the coming quarters. My expectation is that holiday business will continue to clock more than 20 percent growth for the rest of the year given the strong demand for both domestic as well as international holidays, Menon said.
On holiday sales he said, it is the more important element right now and is running ahead of budget, so that is where we will focus over the next couple of quarters.
According to him, next year Sterling Holiday will return to profitability.
For full interview, watch accompanying video...
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