Forum Archive Index - February 2001

["Matthew Van Veen" <mattvanveen@hotmail.com>]

Just read this on Net Broker.

Tourism Holdings Limited Announcement  (issued @ 4:59pm)
THL12/02/2001GEN REL: 1659 HRS Tourism Holdings Limited GEN: THL: DRAFT 
12/2000 RESULT & REVISED YEAR END FORECAST The Directors of Tourism Holdings 
Limited have reviewed the draft December2000 result, sales figures for 
January 2001 and projected forward bookingsfor the remainder of the 
financial year and these results indicate that thepreviously advised year 
end forecast of $21m Net Profit After Tax provided tothe market on 13 
November 2000 will not be achieved and will now be in therange of $14-16 
million._The unaudited draft six months result to December 2000 of $6.6m Net 
ProfitAfter Tax is down $1.0m or 13% on last year's result._THL's Directors 
advise that the shortfall in profit for the six months andyear end is 
principally due to reduced revenues from the Australian Rentalsdivision.  
For the six months to December 2000 the Australian Earnings BeforeInterest 
and Tax (EBIT) were down 30% compared to last year.  The New 
Zealandoperations despite a poor ski season, adverse South Island weather 
and higherfuel prices previously announced, generated a 3% increase in EBIT 
for the sixmonths to December 2000 compared to last year and will produce a 
result aheadof last year for the full financial year._The financial position 
of THL remains strong with debt reducing $39m to $103mover the year to 
December 2000.  This has led to a 10% improvement over theyear in THL's 
debt/debt plus equity ratio._The purpose of this announcement is to keep the 
market informed as there isan Investment Statement in the market and updated 
year end forecast._The full half year announcement will be made on 27 
February at which timedetailed commentary on the results and year end will 
be made.End CA:00063945 For:THL    Type:GEN        Time:2001-02-12:16:59:12 
Encrypt:Y



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