Tourism Holdings beats 1H guidance on reduced fleet, wider margins

Tue, 24 Feb 2015

By Suze Metherell Feb. 25 (BusinessDesk) - Tourism Holdings, the largest campervan rental business in Australia and New Zealand, more than doubled first-half profit, beating expectations, after cutting costs and fattening margins. Profit rose to $5.6 million in the six months ended Dec. 31, beating its December guidance of $5 million and up from $2.5 million a year earlier, the Auckland-based company said in a statement. Sales slipped 2.3 percent to $109.7 million as it reduced its fleet numbers, while the cost of sales shrank 12 percent...

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