THL
30/04/2015 08:31
FORECAST
PRICE SENSITIVE
REL: 0831 HRS Tourism Holdings Limited
FORECAST: THL: FY15 Profit Upgrade
29 April 2015
TOURISM HOLDINGS LIMITED (thl)
NZX / MEDIA RELEASE
thl updates forecast - Net Profit After Tax above $19.5M
With recent trading results in New Zealand and the USA in particular, thl has
upgraded the FY15 year-end forecast Net Profit After Tax (NPAT) from "at
least $17M", released in December 2014, to between $19.5M and $20.0M.
The year-end forecast NPAT includes two one-off items. There is a positive
contribution of $1.6M arising in relation to an agreed early termination of
the Alpine Bird deferred consideration agreement that formed part of the
merger with Kea in 2012. The other is a negative revision in valuation of
the Hamilton building asset of $1.5M. The building is under sale contract.
The net debt level is forecast to reduce as a result of improved trading and
the two one-off items. It is now forecast to be in the range of $65-70M,
down from the $80-85M forecast at the interim result release.
The outlook for the next financial year remains positive and will be
discussed in more detail in August, when the Company looks forward to
releasing its audited annual results.
END
Authorised by:
Rob Campbell
Chairman
Tourism Holdings Limited
For further information contact:
Grant Webster
thl Chief Executive
Direct Dial: +64 9 336 4255 | Mobile: +64 21 449 210
Mark Davis
thl Chief Financial Officer
End CA:00263677 For:THL Type:FORECAST Time:2015-04-30 08:31:10
