Tourism Holdings said its net profit, before one-off gains, jumped by 24 per cent in the June year to a record $37.5 million.
After one-off gains of $24.3m, the company's net profit leaped by 107 per cent to $62.7m.
Chief executive Grant Webster, said it was a complex result with one-off gains, USA tax changes, the effects of the first full year of El Monte and exchange rate movement impacts.
"The EBIT [earnings before interest and tax] improvement of 33 per cent in the prior corresponding year represents a great growth rate; however, we still had opportunities and have an intense focus on addressing New Zealand vehicle sales shortfalls in the first quarter of 2019," he said in a statement.
![Tourism Holdings chief executive Grant Webster. Photo/NZ Herald.](https://www.nzherald.co.nz/resizer/v2/BG3DLYOLW2DBIRZFPJFMMUF4WM.jpg?auth=64269e7765d78a7fe1a7e69669ccf9f395ef392bf75349a901c1714763894ba7&width=16&height=11&quality=70&smart=true)