A nice profit upgrade and debt below projected
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A nice profit upgrade and debt below projected
pdated FY20 guidance
14/9/2020, 11:01 amMKTUPDTE14 September 2020
MEDIA | NZX RELEASE
TOURISM HOLDINGS LIMITED (thl)
UPDATED FY20 GUIDANCE
thl advises that it expects its underlying net profit after tax for the financial year ending 30 June 2020 (FY20) will be approximately $20 million. This compares to thl’s previous guidance range of $17.5 - $19.5 million, as released on 25 June 2020.
This underlying result excludes the impact from a number of one-off items, including the partial Togo exit undertaken in March 2020 which resulted in a one-off gain of $9.3M including tax and foreign exchange benefits, a one-off tax benefit of $1.1M in the USA and the write-off of $3.1 million of goodwill attributed to Kiwi Experience. thl’s FY20 statutory net profit after tax, which is inclusive of these one-off items, is expected to be approximately $27 million.
thl’s net debt (bank borrowings less cash and cash equivalents) as at 30 June 2020 was approximately $128 million. This compares to earlier expectations of net debt of approximately $133 million, as noted in thl’s market release on 31 July 2020. The variance was primarily attributable to the continued outperformance of vehicle sales, particularly in the United States.
thl will be releasing its financial results for FY20 on Friday, 18 September 2020.
ENDS
very good communicator, clear and detailed guideline has been given, better than other company's announcements. Only need to concern goodwill for FY20 & FY21( fire accident damage) and vehicle sales for FY21. Go THL!
I've been sniffing around their so called great new Zealand campervan sale https://greatnzmotorhomesale.com/
I have yet to see anything that represents a really good buy.
A tourism company with a PE of about 12 in the middle of a tourism crisis, there are worse places to be invested.
What would their earnings be without truck loads of Govt support ?
Personally I am well pleased to have exited for a modest profit.