Johannesburg –
Tourism and leisure group Cullinan Holdings [JSE:CUL]‚ on Wednesday reported a
60.71% hike in its diluted headline earnings per share to 4.95 cents for the
year ended September 2012.
“The group increased market share during the year‚ with a
resultant growth in revenue of 16%‚ with all travel divisions (Inbound and
outbound tour operations‚ travel agency retail‚ and coaching and touring)
contributing to this growth. Margins were also maintained and costs were well
managed throughout the year‚” Cullinan said in a note on Wednesday.
Its revenue increased 16% to R454.8m.
The group declared a final dividend of 1 cent per share‚ its
first since 2008.
Cullinan Holdings expects the current positive momentum to
continue into the next financial year.
“Whilst there are concerns around external factors such as
the economy‚ inflationary pressure and exchange rates‚ the fundamentals of the
business are strong. The group owns many leading travel brands‚ has proven
leadership within each business unit‚ an ability to increase market share and a
robust financial position‚ while a number of fundamental steps have also been
taken in 2012 to support the group's growth strategy for the year ahead‚”
Cullinan said.
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