Stability a big plus for tourism

Tourism Holdings yesterday reported net profit after tax of $11.2 million for the June year, up from $8.7 million the previous year.

The profit was on turnover of $166 million, which, excluding discontinued businesses, was up 4 per cent on last year.

Operating profit rose 7 per cent to $27 million.

Directors declared a fully imputed dividend of 5c per share to be paid on October 22, up from the 4cps dividend paid at the same time last year.

The company said the international tourism environment during the past six months had been more stable than previous years and not disrupted by international events such as terrorism attacks, the Iraq War and the Sars virus.

This month, the company bought the campervan fleet and forward bookings of Hertz Australia as well as the forward bookings of Cruise NZ.

Tourism Holdings' New Zealand operations include motorhomes, car rentals and coach businesses, Kiwi Experience and attractions such as Kelly Tarlton's Underwater World in Auckland and the Waitomo Caves.

- NZPA