THL - Tourism Holdings

[golden city]

Stearling the biggest shareholder moving big holdings around. Last time it did that. Present takeover offers

[vin]

You topping up GC?

[golden city]

I topped up when it was at 2.17

[sb9]

Well, within 24 hours all will be revealed.

[Peitro]

TBH you can keep blatantly blindly ramping it, seems to be working...

[golden city]

time to reveal tomorrow morning.., expecting 8 to 9c dividends

[NZSilver]

Should be a goody

[Balance]

Market is certainly pricing in a goody result.

Confirmation and upgrade to profit outlook of $22m will firm the sp higher.

Let's also see how THL tracks against the strategic capital capital review (Aug 2015) :

The process is now complete and the Board would like to announce the
following outcomes:

o An updated dividend policy has been adopted. The policy targets a payout
ratio of 75-90% of annual Net Profit After Tax (NPAT). Consistency in
dividend levels is also a focus of the policy.

o thl believes it has significant balance sheet flexibility. The Board
intends to use this flexibility to focus on value accretive acquisitions,
either globally or domestically.

o thl intends to continue to use financial benchmark ratios consistent with a
Baa/BBB credit rating used by the recognised international credit rating
agencies as a guide for target debt levels.

o thl is targeting growth in NPAT to at least $30M in the 2019 financial year
from the existing businesses. The Board notes this is before any acquisitions
or greenfields development. The internal work completed through this
strategic review provides the basis for this goal.

o The Company is preparing to announce a number of new operational
initiatives at both the Annual Results release and Annual Meeting in
November. Whilst still in progress, these initiatives will increase revenue
and earnings, selling more services to rentals customers and vehicle sales in
the New Zealand market.

[Peitro]

NZX | MEDIA RELEASE
TOURISM HOLDINGS LIMITED (thl)
HALF YEAR RESULTS TO 31 DECEMBER 2015

thl increase forecast with positive half year result - NPAT up 45%
Highlights:
• NPAT of $8.2M compared to $5.6M prior corresponding period (pcp)
• Dividend declared of 9cps (partially imputed)
• Forecast full year NPAT increased to around $24M (up from $22M)

thl today released its half year results to 31 December 2015 with a Net Profit After Tax of $8.2M, up 45% on the prior corresponding period.

Chairman, Mr Rob Campbell, said, “We continue to see the business adapt as it delivers expected improvements in profitability and addresses areas of concern. There is always more work to be done.”

“We remain focused on the goals set at the Annual Meeting. We are managing our capital base effectively and can sustain the dividend payout ratio whilst pursuing the new initiatives for growth. The 9c interim dividend announced today (up from 7cps in the pcp) reflects this approach.”

“The strategic review conducted last year indicated that the business would look to grow NPAT to $30M by FY19 and we remain on track or ahead of that target based on current performance. The new initiatives are progressing and the business continues to explore acquisition growth options internationally which would be incremental to the $30M target.”

CEO, Mr Grant Webster, said, “we are pleased to update the year end forecast NPAT to around $24M, reflecting the positive operating environment for tourism here in New Zealand and overseas. The peak season is well under way and operating to plan. From a debt perspective, the company is operating well within its own benchmarks. We have changed the manner in which we report fleet capex spend to provide improved investor understanding of how we have created more flexibility in the business model. ”

The full results presentation and commentary is available on the Company’s website.

END
 

NZX: THL (Tourism Holdings Limited)
FINANCIAL AND OPERATIONAL RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2015

This report has been based on the unaudited accounts which have been prepared in accordance with New Zealand equivalents to International Financial Reporting Standards (NZIFRS).

Current Year NZ$m; Up/down %; Previous corresponding period NZ$M

Total operating revenue $133.7M; up 20%; $111.4M

Operating profit before tax $13.7M; up 44%; $9.5M

Less tax on operating profit $5.5M; up 42%; $3.9M

Profit after tax attributable to members of the listed issuer $8.2M; up 45%; $5.6M

Earnings per share from continuing operations cps 7.2 cps; up 44%; 5.0 cps

9cps dividend declared partially imputed to 50%.

Record Date : 7 April 2016 (ex date 6 April 2016)
Payment Date : 14 April 2016

Authorised by:

[sb9]

Only one word for the results announced "STUNNING"....