Tourism Holdings' shares rebound after profit downgrade

By Jenny Ruth | Fri, 07 Feb 2020


Tourism Holdings' shares staged a remarkable recovery, ending Wednesday up 7.1 percent after shrugging off the company's earlier profit downgrade.The shares closed at $3.00 after earlier sinking as low as $2.50 from $2.80 on Tuesday.  The recovery was all the more remarkable because the $24 million annual net profit the company is forecasting, down from $27.9 million the previous year, is well below analysts' consensus forecasts for the year ending June of $27.6 million.Out of dateThat's until one realises those forecasts were out of date,...