Forum Archive Index - February 2001

[nickkearney@xtra.co.nz]

> Matthew

Something else we can blame on the aussies.


> From: "Matthew Van Veen" <mattvanveen@hotmail.com>
> Date: 2001/02/12 Mon PM 05:51:09 GMT+12:00
> To: sharechat@sharechat.co.nz
> Subject: [sharechat] THL - latest
> 
> 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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