Tourism Holdings to remain listed, use balance sheet to fund acquisitions

Mon, 03 Aug 2015

By Jonathan Underhill Aug. 4 (BusinessDesk) - Tourism Holdings, the campervan rental company, will remain listed and says it has the balance sheet strength to take on debt to fund acquisitions. The announcement comes after the Auckland-based company hired First NZ Capital in April to help with a review of its capital structure. Tourism Holdings has improved earnings across its businesses by selling off excess fleet capacity and focusing on margins, and in April lifted its profit guidance for a third time to between $19.5 million and $20 m...

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