MINT REPORTS 44% RISE IN 2Q14 NET PROFIT

Minor International (“MINT”) reported net profit of Baht 617 million in 2Q14, a 44% year-on-year increase from 2Q13. This increase was driven by the strong performance of MINT’s hospitality and restaurant businesses as well as the gain from fair value adjustment of its investment in Serendib Hotels Plc. MINT’s hospitality business recorded a 134% year-on-year increase in 2Q14 net profit and its restaurant business recorded a 23% year-on-year increase in net profit in the same period. Excluding the one-time gain resulting from MINT’s fair value adjustment of its investment in Serendib, MINT’s 2Q14 net profit increased 28% year-on-year. These results demonstrate the benefit of MINT’s diversification and international expansion strategies, as strong performance from international operations mitigated the impact of a slowdown in tourist arrivals and domestic consumption in Thailand in 2Q14. MINT’s net profit increased by 11% to Baht 2,037 million in 1H14 from Baht 1,838 million in 1H13.

MINT’s hospitality business recorded a 134% increase in 2Q14 net profit and an 18% year-on-year increase in 1H14 net profit. This robust growth is primarily attributable to strong performance of MINT’s overseas hotels as well as performance of MINT’s non-Bangkok Thai hotels, both of which offset weaker performance of hotel properties in Bangkok due to political uncertainty. Revenue per available room (RevPar) of MINT’s hotel portfolio increased by 9% year-on-year in 1H14. Excluding hotels in Bangkok, the year-on-year increase in RevPar was 17%. Hotels in Thailand’s major tourist destinations outside of Bangkok continued to see RevPar rising on the back of increases in average daily rates (ADRs), while occupancy remained strong. Hotels outside Thailand, the majority of which are Anantara hotels, recorded RevPar growth of 50% year-on-year as a result of achieving higher occupancies and ADR’s both in existing properties and new openings. MINT’s point-based timeshare business, Anantara Vacation Club, also reported robust performance with revenue growing by 50% in 1H14. Additionally, MINT’s hospitality business recorded a Baht 69 million gain (after tax) from fair value adjustment of its investment in Serendib from “available-for-sale” to “investment in associate” following MINT’s increase in its investment in Serendib from 19.8% to 22.7% during 2Q14. Excluding this one-time gain, MINT’s hospitality business still recorded strong year-on-year net profit growth of 63% in 2Q14 and 12% in 1H14. With the improving political climate in Thailand, MINT expects tourist arrivals to Thailand to rebound, which should lead to strong performance of its Thai hospitality portfolio in the second half of 2014.

MINT’s restaurant business recorded a 23% year-on-year increase in 2Q14 net profit and a 4% year-on-year increase in 1H14 net profit. Its leading market position, the implementation of strategic marketing and promotional techniques that increased customer counts and revenue per customer, together with stringent cost control measures helped offset challenges attributable to political uncertainty during the quarter. The portfolio’s total-system-sales grew 12% in 2Q14, comprising same-store-sales growth of 1.5% and 12% year-on-year store expansion. MINT expects that consumer confidence in Thailand will strengthen as the political climate improves, which will drive consumption and the performance of its restaurant business in the near term. The return of private and public investment together with a series of economic and social policies implemented by the National Council for Peace and Order is expected to lead to the gradual recovery of economic conditions, further strengthening consumption patterns over the medium and long term. MINT believes that opening new restaurant outlets alongside major retail operators, together with continued growth of MINT’s franchise business, will contribute to strong performance of the restaurant business in the second half of 2014.

MINT’s retail trading business, which operates in Thailand, recorded revenue growth of 5% in 2Q14 and 4% in 1H14 while its profitability was put under pressure largely as a result of decreased domestic consumption in light of Thailand’s political uncertainty. The Company’s contract manufacturing business saw its revenue and profit decline year-on-year in 2Q14 due to delayed orders, largely attributable to the same factors. The contribution of retail trading and contract manufacturing businesses to MINT’s overall revenue and profit remained small and their profit growth shortfall was offset to a significant extent by the strong performance of MINT’s core hospitality and restaurant businesses in 2Q14.

About Minor International: Minor International (MINT) is a global company focused on three primary businesses including restaurants, hotels and lifestyle brands distribution. MINT is one of Asia’s largest restaurant companies with over 1,500 outlets operating system wide in 20 countries under The Pizza Company, Swensen’s, Sizzler, Dairy Queen, Burger King, Thai Express, the Coffee Club, Ribs and Rumps and Riverside brands. MINT is also a hotel owner, operator and investor with a portfolio of 109 hotels and serviced suites under the Anantara, Avani, Oaks, Per Aquum, Marriott, Four Seasons, St. Regis, Elewana and Minor International brands in Thailand, Australia, New Zealand, the Maldives, Vietnam, Tanzania, Kenya, the Middle East, Sri Lanka, China, Malaysia, Cambodia, Mozambique and Indonesia. MINT is one of Thailand’s largest distributors of lifestyle brands focusing primarily on fashion, cosmetics and contract manufacturing. Its brands include Gap, Esprit, Bossini, Charles & Keith, Pedro, Red Earth, Tumi, Zwilling J.A. Henckels, ETL Learning and Mysale. For more information, please visit www.minorinternational.com.

Press Contacts:

Minor International: Chaiyapat Paitoon / Jutatip Adulbhan at Tel: (662) 365-7500

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