Aussie dollar blamed for THL loss

Aussie dollar blamed for THL loss
By admin


Campervan firm Tourism Holdings Ltd has downgraded its profit guidance for the full year, blaming "falling Australian revenue" as it posted a $0.5 million loss for the six months to December.

The New Zealand-based company reduced its profit forecast to between $14 and $16 million, down from $19 million, as Australian turnover shrank to $47.3 million for the half year, down from $45.8 million in the previous corresponding period. Both the New Zealand and US rental operations posted growth.

"The Australian market remains tough," a THL statement said. "The strong and sustained rise of the Australian dollar against the currencies of core inbound tourism markets is entrenching perceptions that Australia is an expensive destination."

Meanwhile, it reported "a seamless transition" for its merger of the KEA and United brands into a single entity late last year but admitted earnings improvements had been "insufficient" to offset the $1.4 million cost of the project, along with the $4.5 million contribution to earnings by the Rugby World Cup in the previous corresponding period.

Chairman Keith Smith also highlighted the "significant challenges" facing core inbound tourism markets.

"However, we are satisfied our first half result was on track with expectations for the period," he said. "And as the success of the merger demonstrates, THL is making good progress reconfiguring the business for these conditions."

Latest News

  • Products

Embrace the journey: Traversing the world with the Shokz OpenRun

If you’ve been on the wrong side of a final call in the airport, or missed the stop on rail journey, it might be time to invest in a pair of Shokz OpenRun headphones. Originally marketed as headphones for fitness fanatics, runners or cyclists with a keen to steer clear of a prang with a car, […]

  • Tour Operators
  • Tourism

TTC: Deals are driving up demand for September trips

The latest market research from TTC Tour Brands shows interest in international leisure travel remains high for 2024, with 77 per cent of Australians over 18 still planning trips this year. Notably, 28 per cent of those travellers are eyeing September for their journeys. Europe continues to be the most popular destination, with 68 per […]

  • Aviation

Qantas ‘working urgently’ to fix app data leak

Qantas is looking into customer reports that passengers have this morning been able to access other passengers’ personal information on the airlines app. X user Lachlan posted that he was able log into different accounts every time he opened the app. My @Qantas app logs me in to a different person each time I open […]

  • Hotels

Revamped Wailoaloa Beach hotel opens as Crowne Plaza Fiji Nadi Bay Resort & Spa

Crowne Plaza Fiji Nadi Bay Resort & Spa is open and ready for bookings after the first phase of a multi-million-dollar transformation. Part of IHG Hotels & Resorts’ premium collection, the transformation has seen the completion of 106 guestrooms showcasing contemporary interiors reflective of the premium Crowne Plaza brand and is a first for the […]

  • Luxury
  • News

Kamalaya Koh Samui clinches clutch of wellness awards

Kamalaya Wellness Sanctuary & Holistic Spa has so far clinched five prestigious awards in 2024, including being inducted into the ‘Hall of Fame’ at the World Spa & Wellness Awards in London. Founders of the Koh Samui sanctuary and spa John and Karina Stewart expressed their heartfelt gratitude for the awards. “We are profoundly honoured […]