* 2013 EBITDA 80.1 mln stg vs 66.1 mln
* Income up 12 pct to 695 million pounds
LONDON, March 10 Travelex, the retail foreign
exchange provider majority-owned by private equity firm Apax
Partners, reported a 21 percent increase in profits on Monday
and said it was considering a stock market flotation.
Earnings before interest, tax, depreciation and amortisation
(EBITDA) increased last year to 80.1 million pounds ($134
million) on income up by 12 percent at 695 million pounds.
"With this positive backdrop and our strong financial
performance, we are currently evaluating our strategic options
which may include an IPO," said Chief Executive Peter Jackson.
Travelex, founded in 1976, co-ordinates over 37 million
retail transactions each year through a network of over 1,500
stores and over 1,250 automated teller machines (ATMs) in 27
countries. Analysts expect the business will command a valuation
in excess of 1 billion pounds.
Jackson declined to comment on the valuation or timeframe
for a flotation or whether the business had received any
"We've said we're evaluating our strategic options and they
include an IPO. Travelex is a brand that's very well know around
the world," he said.
Jackson said the group was also looking at expanding into
more new markets having launched operations in Panama in 2013
and Guam in early 2014.
"There are some markets we're not as well represented in.
Turkey is a market which I've been looking at for a while," he