Tourism Holdings beats first-half guidance on NZ tourist assets, flags full-year profit surge

Tue, 25 Feb 2014

By Suze Metherell Feb. 26 (BusinessDesk) – Tourism Holdings turned to a profit in the first half, beating its guidance, as improved New Zealand tourism returns made up for a weaker Australian performance. The shares jumped to the highest in more than five years after it said full-year profit would soar 175 percent. Earnings before interest and tax rose 36 percent to $7.2 million in the six months ended Dec. 31, from $5.3 million a year earlier, the company said in a statement. Net profit was $2.5 million, from a loss of $466,000 a year earlie...

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