THL
23/02/2016 08:48
HALFYR
PRICE SENSITIVE
REL: 0848 HRS Tourism Holdings Limited
HALFYR: THL: THL Interim Results FY16
23 February 2016
NZX | MEDIA RELEASE
TOURISM HOLDINGS LIMITED (thl)
HALF YEAR RESULTS TO 31 DECEMBER 2015
thl increase forecast with positive half year result - NPAT up 45%
Highlights:
o NPAT of $8.2M compared to $5.6M prior corresponding period (pcp)
o Dividend declared of 9cps (partially imputed)
o Forecast full year NPAT increased to around $24M (up from $22M)
thl today released its half year results to 31 December 2015 with a Net
Profit After Tax of $8.2M, up 45% on the prior corresponding period.
Chairman, Mr Rob Campbell, said, "We continue to see the business adapt as it
delivers expected improvements in profitability and addresses areas of
concern. There is always more work to be done."
"We remain focused on the goals set at the Annual Meeting. We are managing
our capital base effectively and can sustain the dividend payout ratio whilst
pursuing the new initiatives for growth. The 9c interim dividend announced
today (up from 7cps in the pcp) reflects this approach."
"The strategic review conducted last year indicated that the business would
look to grow NPAT to $30M by FY19 and we remain on track or ahead of that
target based on current performance. The new initiatives are progressing and
the business continues to explore acquisition growth options internationally
which would be incremental to the $30M target."
CEO, Mr Grant Webster, said, "we are pleased to update the year end forecast
NPAT to around $24M, reflecting the positive operating environment for
tourism here in New Zealand and overseas. The peak season is well under way
and operating to plan. From a debt perspective, the company is operating
well within its own benchmarks. We have changed the manner in which we
report fleet capex spend to provide improved investor understanding of how we
have created more flexibility in the business model. "
The full results presentation and commentary is available on the Company's
website.
END
NZX: THL (Tourism Holdings Limited)
FINANCIAL AND OPERATIONAL RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2015
This report has been based on the unaudited accounts which have been prepared
in accordance with New Zealand equivalents to International Financial
Reporting Standards (NZIFRS).
Current Year NZ$m; Up/down %; Previous corresponding period NZ$M
Total operating revenue $133.7M; up 20%; $111.4M
Operating profit before tax $13.7M; up 44%; $9.5M
Less tax on operating profit $5.5M; up 42%; $3.9M
Profit after tax attributable to members of the listed issuer $8.2M; up 45%;
$5.6M
Earnings per share from continuing operations cps 7.2 cps; up 44%; 5.0 cps
9cps dividend declared partially imputed to 50%.
Record Date : 7 April 2016 (ex date 6 April 2016)
Payment Date : 14 April 2016
Authorised by:
Rob Campbell
Chairman, Tourism Holdings Limited
For further information contact:
Grant Webster
thl Chief Executive Officer
Direct Dial: +64 9 336 4255
Mobile: +64 21 449 210
Mark Davis
thl Chief Financial Officer
Direct Dial: +64 9 336 4212
Mobile: +64 27 444 0199
About thl (www.thlonline.com)
thl is a global tourism operator. We are listed on the NZX and are the
largest provider of holiday vehicles for rent and sale in Australia and New
Zealand. In the USA we own and operate the Road Bear RV Rentals and Sales
brand. Within New Zealand we operate Kiwi Experience and the Discover
Waitomo group which includes Waitomo Glowworm Caves, Ruakuri Cave, Aranui
Cave and The Legendary Black Water Rafting Co. In 2012 thl entered in a joint
venture to form RV Manufacturing Group LP, now Action Manufacturing LP, New
Zealand's largest motorhome and specialist vehicle manufacturer. Action
Manufacturing LP has operations both in Auckland and Hamilton. In February
2015, thl acquired 49% of Just Go Motorhome Rentals & Sales, based in the UK.
End CA:00278119 For:THL Type:HALFYR Time:2016-02-23 08:48:15
