Tourism Holdings forecasts first-half loss on merger costs

Tue, 27 Nov 2012

Nov. 28 (BusinessDesk) - Tourism Holdings, which merged its campervan rental business with two rivals last month, forecast a first-half loss on costs of the transaction and changes to accounting treatment of its US fleet. The net loss will be $500,000 to $1 million in the six months ended Dec. 31, down from a year-earlier profit of $4.2 million. Earnings before interest and tax would be $4.2 million to $5 million, down from $11.5 million a year earlier. The Auckland-based company gave the forecasts at its annual meeting yesterday and release...

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