Tourism Holdings reports record profit, optimistic outlook

Tourism Holdings Limited (THL) has announced a record underlying profit for the financial year ending June 2023.

The company reported a statutory net profit after tax (NPAT) of $49.9 million, an increase of $52 million compared to the previous year.

The underlying NPAT reached a record $47.8 million, with a pro forma underlying NPAT of $77.1 million, which includes the impact of acquisition accounting.

After removing the impact of acquisition accounting, the pro forma underlying NPAT was $81.1 million, surpassing the previous guidance of $75 million+.

THL completed its merger with Apollo and achieved successful initial integration.

The company also declared a final dividend of 15 cents per share and introduced a new dividend policy targeting a distribution of 40-60% of underlying NPAT.

THL expressed optimism about its growth prospects in FY24 and beyond, with further guidance to be provided at the 2023 Annual Meeting.

The company plans to reward its crew with $1,000 worth of thl shares as a recognition of their dedication and the company's return to profitability.