THL sees Australia as growth market
AUCKLAND – Tourism Holdings Ltd (THL) chief executive Grant Webster has called for Tourism New Zealand and Tourism Australia to work together more closely to benefit the region as a whole.
Speaking at THL’s annual meeting, Webster said, “The work on easier customs and border access, for example Smart Gate, between the two countries is a good example of the benefits that can be gained.”
THL is the largest provider of holiday rental vehicles in Australia and New Zealand under the Maui, Britz, Backpacker and Explore More Brands. The majority of its rental vehicles are provided by its manufacturing company, Ci Munro.
THL said Net Profit After Tax (NPAT) for the 2009 financial year was positive at NZ$2.9 million – boosted by the gains on sale from Kelly Tarlton’s and the Milford Sound businesses – but Webster called the result “well below our aspirations, and reflected broad industry issues as well as some impact from internal areas of concern including Ci Munro’s manufacturing performance”.
For the first half of this financial year THL is forecasting a net loss of between NZ$1 million and breakeven – a large improvement, on a like-for-like basis, compared to the same period last year which was a net loss of $4.8 million.
For THL, this year celebrates the 10th anniversary of the coming together of the Britz and Maui rental businesses.
“Whilst the first few years were difficult – especially in Australia – we now reap the rewards from the geographical spread and scale, and we will continue to see more benefits from the differentiation of both these brands along with Backpacker and Explore More,” said Webster.
“We must remember that we hold what is most likely the second largest rental motor home fleet in the world. This creates leverage opportunities we need to maximize.”
Australia now provides more than 45 percent of THL’s total revenues and has, over the past year, provided the benefits of operating in a larger economic market.
Webster added, “I see Australia as an ongoing growth market for us over the coming years, especially as we further adapt the operating model to cope with the difficulties of distance, terrain and costs associated with multiple locations.”
Ian Jarrett
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