Tourism Holdings returns to FY profit on Road Bear, RWC

Sun, 26 Aug 2012

By Hannah Lynch Aug. 27 (BusinessDesk) - Tourism Holdings, the largest provider of holiday rental vehicles in New Zealand and Australia, returned to profit after an increase in sales from the Rugby World Cup and the first full-year contribution its Road Bear unit in the US. Profit was $4.3 million in the 12-months ended June 30, from a year-earlier loss of $27.3 million, the Auckland-based company said in a statement. Sales increased 8 percent to $200 million. "The positive result was driven by tight control of costs, operational improveme...

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