Tourism Holdings upgrades guidance again

Tourism Holdings upgrades guidance again

The largest campervan rental business in Australia and New Zealand, Tourism Holdings, has boosted full-year guidance for a third time.

It has also hired First NZ Capital to review its capital structure.

The Auckland-based company said it expects annual profit to be between $NZ19.5 million and $NZ20 million ($A18.61 million-$A19.09 million) in the year ending June 30, from the $NZ11.1 million it recorded in 2014.

Tourism Holdings has lifted its annual forecast twice before. In December, it expected at “at least $NZ17 million”, an upgrade for its earlier November range of between $NZ15 million and $NZ16 million.

The company has improved earnings across its businesses by selling off excess fleet capacity and focusing on margins.

The company is looking to leverage earnings from New Zealand’s booming tourism market to fund growth in the international motorhome market.

It expects profit increases to be led by growth in its local and Australian rentals businesses, as well as cost cutting.

The company has also hired First NZ Capital to review its capital structure as it looks for a way to “maximise shareholder value”.

The shares last traded at $NZ1.61 and have fallen 11 per cent since the start of 2015, having risen to a seven-year high of $NZ1.90 in February.

Tourism Holdings has announced an interim dividend of NZ5 cents per share, up from NZ2 cents a year earlier.

In 2007, shareholders rejected a takeover bid by Australian company MFS Living and Leisure when the shares were at $NZ2.80.

Latest News

  • Destinations
  • News

APT Launches 2025 Asia Adventures

APT has launched its Asia Adventures for 2025, including new luxury holidays in India, Sri Lanka and Japan. Five new tours lead guests to the highlights of India, including a seven-night cruise along the rarely travelled Lower Ganges aboard the Ganges Voyager. Further south, Sri Lanka’s greatest destinations are revealed on a new 15-day Land […]

  • Cruise
  • Luxury
  • News

Seabourn announces Western Kimberley Traditional Owners as Godparents of Seabourn Pursuit

Seabourn has named Western Kimberley Traditional Owners, the Wunambal Gaambera, as Godparents of the ultra-luxury purpose-built Seabourn Pursuit. It is the first cruise line to appoint Traditional Owners as godparents of a ship. Seabourn Pursuit embarks on its inaugural season in the Kimberley region this June. The naming ceremony will take place on Seabourn Pursuit’s […]

  • Luxury

Malolo Island Resort opens brand new Spa

Fiji’s Malolo Island has added another string to its bow – opening its $1.3 million day spa on Thursday, 18th April 2024. (Lead Image: matriarch Rosie Whitton with spa staff) Located at the edge of the resort’s luscious patch of tropical rainforest, the new “Leilani’s Spa” adds another level of elevated experiences to Malolo’s already […]