NZ's Tourism Holdings Profit Jumps

August 26, 2014

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New Zealand tourism company Tourism Holdings reported a 192 percent rise in annual profit on Tuesday, as sales improved and debt costs fell.

The company reported a net profit of NZD$11.1 million (USD$9.26 million) for the 12 months to June 30 compared with the previous year's NZD$3.8 million.

Tourism Holdings, which operates campervan rental fleets in New Zealand, Australia, and the United States, and makes motorhomes, declared a dividend of 6 cents a share compared with last year's 2 cents.

It said it expected a net profit of at least NZD$15 million in the coming year.