Archive | Tourism Holdings

Tourism Holdings Ltd increased its June year pretax surplus by 23% to $17.8 million, and net surplus by 29.5% to $11.2 million, on revenue down 2.7% to $170.5 million.

Earnings/share rose 30%, from 8.8c to 11.4/share.Excluding one-off tax adjustments in both years & unusuals last year, the $10.3 million trading net profit after tax was up 43%. Ebita (earnings before interest, tax & amortisation) was up 7% to $27 million.

The company said international tourism was more stable in the 2nd half.

Forecast $21m npat now cut by third

Tourism Holdings Ltd’s directors said on Monday net profit after tax for the year to June could be as much as one-third below the $21 million they forecast in November.

The directors made their statement after reviewing the draft half-year result, sales figures for January and projected forward bookings. The outcome was a revised forecast profit of $14-16 million.

The unaudited half-year result was a $6.6 million profit after tax, $1 million or 13% below the first-half last year, which the directors said was mainly due to lower revenue from the Australian rentals division.

Australian earnings before interest and tax fell 30%, but New Zealand ebit rose 3% despite a poor ski season, adverse South Island weather and higher fuel prices.

Tourism Holdings will make a full half-year announcement on 27 February.