21 February 2017
NZX
MEDIA RELEASE
TOURISM HOLDINGS LIMITED (thl)
HALF YEAR RESULTS TO 31 DECEMBER 2016
thl half year NPAT up 38%, with a confident plan for the future
Highlights:
o NPAT of $11.3M compared to $8.2M prior corresponding period (pcp)
o Dividend declared of 10cps (partially imputed)
o Forecast full year NPAT expected to exceed $27.0M
thl today released its half year results to 31 December 2016 with a Net
Profit After Tax of $11.3M, up 38% on the prior corresponding period. Total
revenue is up $12.3M, or 9%, with operating earnings before interest and tax
(EBIT) up 25%.
Chairman, Mr Rob Campbell, said, "we continue to deliver profit, ROFE and
dividend growth through executing our plan effectively in a positive trading
environment. The acquisition and announcements made in December 2016 provide
another positive leap for the business.
thl has reset its aims to a true global platform. We have set the FY20 NPAT
goal of $50M with conservative top line growth expectations based on the
international trends."
The December announcement referred to includes the $91M acquisition of El
Monte Rents Inc., the second largest RV rental business in the USA, the
expansion of the Mighway platform into the North America market and a series
of transactions with Roadtrippers USA.
CEO, Mr Grant Webster, said, "we have learnt that any acquisition needs a
clear and simple plan in the first instance and we are working very
effectively with the El Monte team to set some new goals and measures that
align with how we operate. We have a real enthusiasm across the business to
achieve the 2020 goal. "
The outlook and the full results presentation and commentary is available on
the Company''s website.
END
NZX: THL (Tourism Holdings Limited)
FINANCIAL AND OPERATIONAL RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2016
This report has been based on the unaudited accounts which have been prepared
in accordance with New Zealand equivalents to International Financial
Reporting Standards (NZIFRS).
Financial Results FY17 FY16 % Change
Total operating revenue $146.0M $133.7M +9%
Operating profit before tax $17.7M $13.7M +29%
Tax on operating profit $6.4M $5.5M +16%
Profit after tax attributable to members of the listed issuer $11.3M $8.2M
+38%
Earnings per share from continuing operations cps 9.7cps 7.2cps +35%
Interim Dividend
Dividend per Share 10 cents per share
Imputation % Partially imputed to 50%
Record Date 3 April 2017
Payment Date 13 April 2017
Dividend Reinvestment Plan
A dividend reinvestment plan is to be introduced for the interim dividend.
Eligible shareholders can elect to reinvest the net dividend payable in new
thl shares. The price of such shares will be the 5 day volume weighted
average price following the record date less a discount of 2%. Details of
the dividend reinvestment plan will be sent to eligible shareholders in early
March and the last date for the registrar to receive election notices or
changes to election notices is 5pm on the record date.
Authorised by:
Rob Campbell
Chairman, Tourism Holdings Limited
For further information contact:
Grant Webster
thl Chief Executive Officer
Direct Dial: +64 9 336 4255
Mobile: +64 21 449 210
Mark Davis
thl Chief Financial Officer
Direct Dial: +64 9 336 4212
Mobile: +64 27 444 0199
About thl (www.thlonline.com)
thl is a global tourism operator. We are listed on the NZX and are the
largest provider of RVs for rent and sale in Australia and New Zealand. In
the USA we own and operate the Road Bear RV Rentals and Sales brand and El
Monte Rentals and Sales. In the UK, thl owns 49% of Just go Motorhomes.
Within New Zealand we operate Kiwi Experience and the Discover Waitomo group,
which includes Waitomo Glowworm Caves, Ruakuri Cave, Aranui Cave and The
Legendary Black Water Rafting Co. thl is a joint venture partner in Action
Manufacturing LP, New Zealand''s largest motorhome and specialist vehicle
manufacturer.
End CA:00297067 For:THL Type:HALFYR Time:2017-02-21 08:30:15