THL - Tourism Holdings

[Beagle]

All going well - half year out
http://nzx-prod-s7fsd7f98s.s3-websit...130/317771.pdf

A cynic would read the Financing Cash Flows bit as ‘we seduced shareholders to give us another $50m from which we gave the Bank $33m and gave $17m back to shareholders’

And by the Way Free Cash Flow was about negative $10m

Good they gave us some nice images of Southern lakes ands mountains from campervans as I doubt many will be bothering to rent a camper and take in those views for themselves in the near future. A lot of people are going to stop flying long haul and renting campervans, surely this is perfectly clear.
"thl is reviewing the nature of its future investment into Togo Group". More than $7 million loss from this in the current half, up more than 30% on pcp. Rob Campbell needs to bite the bullet and cauterize this wound immediately, before it gets even worse.

I am a cynic, the dividends are an illusion and have been for years. They give partially imputed dividends with one hand, and then the Govt takes a slice and then take with capital raise with the other. Only winner is the Govt. Time for Rob to retire...all his companies struggling, THL, SUM and SKC. Too much for a portly old man to cope with.