Tourism Holdings release 2007 results.
Tourism Holdings Limited (THL) today announced trading Net Profit After Tax(NPAT) for the June 2007 year before non-recurring items was $18.9m, compared with guidance on 3rd July 2007 at the upper end of the range from $17.5m to $18.5m.
Net turnover grew from $176m to $190m and earnings Before Interest and Tax (EBIT) excluding one off items increased from $27m to $33m.
The report says that trading was relatively slow in the first quarter, but stronger in the second due to an increase in the number of visitors to both New Zealand and Australia.
As the year progressed, declining visitor numbers from Japan down 12% offset increases from the United Kingdom, Australia and Europe.
The high level of the New Zealand dollar remained a significant depressing influence on visitor in-market spending and this was particularly significant for THL’s Attractions and Leisure businesses.
The group’s results were also affected by increases in operating costs, and by margin pressure arising from heightened competition.
Non-recurring items totalled $5.5m after tax, ($7.6m pre-tax) for the year – below the most recent estimate of $6.5m.
The company paid a final dividend of 6 cents per share, fully imputed, on 25 July 2007, with the dividend declared and paid earlier than usual because of circumstances related to the takeover offer.
Total dividend for the year was 11 cents per share – the same rate as for the 2006 financial year.
The chairman of THL, Keith Smith, said the year had presented significant change for the group, beginning with the appointment of new chief executive officer Trevor Hall on 3rd July 2006.
He added, ““The Board’s objective has been to position the group for profitable growth in the markets best suited to its core competencies and capabilities.”
“To this end the group undertook a major review of strategy and structure, which identified the need to improve our ability to exploit opportunities in distinct market segments.”
“The operating divisions were restructured, creating the Tourism Leisure Group and the youth-oriented EX Group.”
“A centralised information technology and project team was created to provide back office efficiencies and market-focused technology solutions.”
“Product innovation was accelerated, with new products introduced right across the group.”
“The cumulative result of these changes is that the businesses within the group are developing more targeted product offerings, and more direct and cost-effective channels to market.”
“In the second half of the year, THL received a non binding indicative offer from MFS Living & Leisure to purchase the Tourism Leisure Group. This was later withdrawn in favour of a takeover offer for all of THL, which was not completed successfully.” “The Board has subsequently received a range of proposals relating to the acquisition, disposal or partnering of businesses within the group and is currently examining these proposals.”
Report by The Mole
John Alwyn-Jones
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airbnb eyes a loyalty program but details remain under wraps
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026