Wednesday 2nd July 2014
|Text too small?|
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.
No comments yet
NZ dollar sags after avalanche of data and central bank action
Fonterra board starts planning chair succession
Fulton Hogan keeps Australian civil construction unit
Time for congestion pricing has come - NZIER
Colliers defends KiwiBuild as 'far from a colossal failure'
Pushpay shares rise as cost-cutting upgrades earnings guidance
20th September 2019 Morning Report
NZ dollar weaker against British pound on EC president's Brexit optimism
Todd plans Kapuni drilling campaign
MARKET CLOSE: NZ shares gain; appetite for KFC helps Restaurant Brands hit record