2:3 Bonus From Thomas Cook, Dividend 50%
Thomas Cook has announced a 2:3 bonus issue and a dividend of 50 per cent on account of encouraging results for the year 1999. Net profit at Rs 18.03 crore, up 5 per cent over the previous year. However, an amount of Rs 10 crore has also been transferred to general reserves.
According to Ashwini Kakkar, chief executive officer and managing director Thomas Cook (India) Ltd, the company's performance has been in line with its strategic plan and with expansion in its core business line, the company is confident of doing better.
Thomas Cook launched two new products during the last year which included a global credit card in a tie-up with Standard Chartered Bank and Visa as well as global services.
The share price of Thomas Cook closed at Rs 946 on the BSE which was a 1.5 per cent drop over the previous day. Volumes traded on BSE were Rs 31,113. On the NSE, the stock price fell by 2.9 per cent on a volume of Rs 29,449.
In India, the company has 50 offices spread over 15 cities. Activities undertaken by the company include forex dealing, travel agency, corporate travel management and a retail network.
On a capital of Rs 8.75 crore, the company's reserves stand at Rs 75.3 crore.