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Results Announcement Six Months to 31 December 07

Tourism Holdings Limited – Results Announcement Six Months ended 31 December 2007.

Attached please find the following documentation:

1. NZX Release
2. Dividend Announcement
3. Operational Review Table Dec 2007
4. Summary Divisional Split Dec 2007
5. THL Unaudited Statutory Accounts Dec 2007






Tuesday, 19th February 2008


• Unaudited Net Profit After Tax (NPAT) up 4% to $4.9m

• Continued good performance from Rentals, particularly in Australia, and
expansion of the New Zealand rental car fleet

• Ongoing progress in strategic change programme

o Joint venture of Johnston’s Coachlines, retaining a 33%

o Joint Venture with Intercity Group to combine the Kings and
Fullers maritime assets and the Intercity, Newman’s and Great
Sights coaching businesses, retaining a 49% shareholding

o Continued progress on the CI Munro relocation to new purpose
built facilities in Hamilton

o Explore More brand established, gaining a significant presence
in the low cost and youth focused car and motorhome sector

o A net gain of $0.5m after tax related to the change programme,
with gains on asset sales offsetting non-recurring charges

• Strong balance sheet, with gearing of 39%, compared with 44% at
December 2006

• Interim dividend maintained at 5c per share

• Continued shift of visitor numbers away from the first half of the tourism
season towards the second reporting period

• Environmental initiatives

o Partnership with Vehicle Testing New Zealand to ensure
compliance with world best practice on emissions

o Contract with Mercedes-Benz to purchase environmentally
friendly vehicles

• Solid trading performance in third quarter to date underpins
expectations of a satisfactory result for the full year

See... Full annoouncement (PDF)

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