THL - Tourism Holdings

[percy]

Major drivers of tourism are growing middle classes in China and India,world wide wealthy retirees who like to travel,and young adventurers .
THL is in the right sector at the right time to benefit from these drivers.

[winner69]

Major drivers of tourism are growing middle classes in China and India,world wide wealthy retirees who like to travel,and young adventurers .
THL is in the right sector at the right time to benefit from these drivers.

.....and they’ve entered markets at a cyclical trough ....more upside.

[percy]

A great deal more upside.

[winner69]

Always good to have a counter-view to test one's conviction and assessment of a stock, W69.

THL under Rob Campbell and the new managers is delivering and that certainly accounts for some of the premium in this outstanding NZ story.

One more big move this year I would say - and if it happens, stock will be at least $8.

Famous last words?

That $8 sounds good mate

A bit more than 8 and it’s a billion dollar company

Wonder what Denis Pickup thinks of the company he built up so successfully (joke) but almost seduced those silly Aussies to but it at an inflated price. What’s Denis up to these days?

[winner69]

I can't even remember having done a DDM on THL...

Sorry mate - it was another analysis you shared with us some time ago ..conclusion that around $6 was good value (as back then)

Re our discussion re dcfs for capital intensive businesses not being the best approach.

As thl is in the business of buying and selling vehicles (as well as renting them for a year or so) a lot of the ‘capex’ is essentially accounted through the P&L anyway (new vehicles in COS and sales through revenue) ....and a such included in ebitda and eps. So we are both actually allowing for capex in our different approaches.

[hardt]

Sorry mate - it was another analysis you shared with us some time ago ..conclusion that around $6 was good value (as back then)

Re our discussion re dcfs for capital intensive businesses not being the best approach.

As thl is in the business of buying and selling vehicles (as well as renting them for a year or so) a lot of the ‘capex’ is essentially accounted through the P&L anyway (new vehicles in COS and sales through revenue) ....and a such included in ebitda and eps. So we are both actually allowing for capex in our different approaches.

All good, I hope I don't contradict myself too often on here

If this value created for EBITDA/EPS by CAPEX is not included in FCF how would a DCF valuation capture this value?

Maybe it comes down to preference for me, but I like to work off EBITDA/EPS in THL valuation.

[LAC]

Great result!!!!

[Benny1]

Great result!!!!

Yep, not bad!!!!
Half year profit increased by 109%, 13c Divi and EPS up 95%
All with reduced debt

[Benny1]

Yep, not bad!!!!
Half year profit increased by 109%, 13c Divi and EPS up 95%
All with reduced debt

Sorry 102% !!!

[cymonger]

Sorry 102% !!!

Cheers to the good news. I read the US numbers were up 18% this year, but haven't seen the full report. Where are you reading that?