The world’s largest motorhome rental company, Tourism Holdings Ltd., says the outlook for New Zealand and Australian tourism is strong as it posted a record EBIT half-year result, while slightly easing its full-year forecast.
The New Zealand Herald reported that operating profit for the core business before interest and tax (EBIT) was up 4% on the previous period last year at $34.7 million, with 6% growth in rental and services revenue, but a 14% decline in vehicle sales income, attributed to a challenging U.S. sales market.
Net profit after tax was down 23% at $17.5 million, which the company said reflected an increased loss of $5.4 millon in its digital investment venture TH2, compared to a loss of $2.4 million in the same period in 2018.
The company said net profit after tax for the full 2019 financial year was now expected to be around $32 million, down from previous guidance of $32-34 million.
For the full story click here.