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May 30, 2015 3:56 AM ET

Consumer Finance

Company Overview of Travelex Holdings Limited

Company Overview

Travelex Holdings Limited, through its subsidiaries, engages in global business payments, currency exchange services and cards, and mobile payments. The company was formerly known as Trapax Payments Limited and changed its name to Travelex Holdings Limited in May, 2006. Travelex Holdings Limited was incorporated in 2005 and is based in London, United Kingdom.

65 Kingsway

London,  WC2B 6TD

United Kingdom

Founded in 2005

Phone:

44 20 7400 4000

Fax:

44 20 7400 4001

Key Executives for Travelex Holdings Limited

Travelex Holdings Limited does not have any Key Executives recorded.

Travelex Holdings Limited Key Developments

Travelex Holdings Limited Reports Audited Consolidated Earnings Results for the Full Year Ended December 31, 2014

Travelex Holdings Limited reported audited consolidated earnings results for the full year ended December 31, 2014. For the year, the company’s income was £693.3 million against £639.6 million a year ago. Operating profit before depreciation, amortization and exceptional items was £79.7 million against £44.5 million a year ago. Operating profit was £29.7 million against operating loss of £38.5 million a year ago. Loss before tax was £132.3 million against £181.7 million a year ago. Loss for the period from continuing operations was £145.7 million against £187.3 million a year ago. Loss for the period attributable to owners of the parent was £149.4 million against £189.7 million a year ago. Cash flows from operating activities were £17.5 million against £69.6 million a year ago. Purchase of property, plant, equipment, and software and development expenditure was £33.5 million against £40.9 million a year ago.

Travelex Holdings Limited Announces Executive Changes

BRS Ventures & Holdings Limited completed the acquisition of Travelex Holdings Limited which was first announced on 23 May, 2014. Following closing and subject to regulatory approvals, Khaleefa Butti Omair Yousif Al Muhairi will be appointed as the Chairman and Dr. B R Shetty will be appointed as the Vice Chairman of Travelex.

Travelex To Merge With UAE Exchange And List

Travelex Holdings Limited will merge with UAE Exchange Centre LLC and will be listed in Abu Dhabi by early on in 2017, according to Bavaguthu Raghuram Shetty, Founder and Chairman of UAE Exchange. Shetty said, "UAE Exchange is into remittances and Travelex is forex, their targets are different. We see exponential growth going forward. We have plans to merge the two entities to expand, to grow the business." and added that a public share offer in Abu Dhabi was also part of the plan. Shetty further added that details about the percentage of shares to be offered to the public are yet to be finalized. N M Rothschild & Sons Limited acted as financial advisor for the deal.

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