Tourism Holdings, the New Zealand campervan rental company that acquired California-based El Monte RV late last year, has reported a rise in its half-year profit off the back of a strong tourism sector and trans-Tasman growth.

According to a report today (Feb. 21) by Radio New Zealand, Tourism Holdings’ profit rose 38% to $11.3 million in the six months to December compared with the previous period. Revenue jumped 9% to $146 million.

Tourism Holdings chief executive Grant Webster said it was in the early stages following the El Monte acquisition.

“We have learnt that any acquisition needs a clear and simple plan in the first instance and we are working very effectively with the El Monte team to set some new goals and measures that align with how we operate,” he said.

Webster said the company had raised its expectations for future profits and was now targeting a full-year profit of $50 million by 2020.

Click here to read the full report.