Tourism Holdings' profit up year-on-year

12.40pm

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

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

Earnings before interest, tax and amortisation (ebita) rose 7 per cent to $27m.

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

The company said in a statement that international tourism environment over the past six months has 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. The company said these have now been integrated into its rental fleets.

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

Shares in the company were down 2c at $1.93 at midday, having traded between $1.34 and $1.97 over the past 12 months.

NZPA