Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Tourism Holdings may beat annual profit guidance

Tourism Holdings may beat annual profit guidance

By Tina Morrison

July 2 (BusinessDesk) - Tourism Holdings, the largest holiday vehicle rental business in New Zealand and Australia, may beat its annual profit guidance.

The Auckland-based company expects to "meet or exceed" its February forecast for profit to rise to $10.5 million in the year ended June 30, from $3.8 million a year earlier, it said in a statement citing unaudited figures. Its earnings will be released Aug. 26, when it expects to detail forecasts for the coming financial year, it said.

The company expects to achieve further growth in its 2015 financial year and deliver on its key objective of achieving an appropriate rate of return on funds employed in the Australian and New Zealand rentals businesses, it said.

Tourism Holdings has been lowering its debt since it bought rivals United Campervans and KEA Campers to reduce overall fleet numbers and boost profitability in 2012. Net debt in the year just ended is expected to fall to $90 million, lower than its February forecast of $95 million and down from $97 million in December, the company said.

The company's shares last traded at $1.12 and have gained 19 percent so far this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Net Annual Migration Passes 71,000

A record 71,300 more migrants arrived in New Zealand than left in the January 2017 year, Statistics New Zealand said today. This surpassed the previous annual record set in December 2016. More>>

ALSO:

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news