Forum Archive Index - February 2001

["latham anderson" <latham.anderson@xtra.co.nz>]

----- Original Message -----
From: "Dennis Pickup" <dennis.pickup@thlnz.co.nz>
To: <latham.anderson@xtra.co.nz>
Sent: Wednesday, February 21, 2001 10:50 AM


1. Note from Dennis Pickup
> Mr Anderson
>
> Thank you for your email of 15 February regarding THL's profit predictions
> following its announcement on 12 February.
>
> We will be making more detailed announcements on 27 February following the
> Directors approval and adoption of the six monthly accounts at their Board
> Meeting on 26 February.  Hopefully the information will help to clarify a
> number of reasons why our six months result is 18% below last year and the
> need to revise the forecast.  Forecasting is a matter ongoing that we
don't
> have to necessarily do once the Investment Statement expires on 30 June
> 2001.
>
> However we will always endeavour to be upfront and highly transparent with
> investors to reflect our obligation to shareholders, that even despite
> events of last week seem to be increasing rather than decreasing in
number.
>
> With the accountability for forecasts a number of people throughout the
> company are involved but at the end of the day it rests with the Managing
> Director reporting to the Board.  So if you are looking one 'dunderhead'
> above anyone else you look no further than the writer.
>
> I note the announcement of Air New Zealand this week which is effectively
a
> turnaround in their first six months profit of $160m when you adjust for
the
> tax credit and they reported a half yearly profit at half of what we have.
>
> Yours faithfully
> Dennis Pickup
> Managing Director
> Tourism Holdings Ltd
>
> DDI:  64-9-309 1879
> Fax:  64-9-309 9269
> Email:  dennis.pickup@thlnz.co.nz


2.AFFCO AGM this pm.  My hunch from the main address - no dividend.
(supposedly to be decided in May).  Vet strike etc.


Justin Amateur, Investor.


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