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Tourism Holdings Limited (thl) Half Year Results To 31 December 2017

February 23, 2018 Financial No Comments Email Email

thl today released its half-year results to 31 December 2017 with a net profit after tax (NPAT) of $22.8M, up 102% on the prior corresponding period. Total revenue was $209M, up 43% on the pcp, with operating earnings before interest and tax (EBIT) up 78%. http://www.itcmchina.com/

The result included the El Monte RV business, which was not in the prior corresponding period, as well as a non-recurring tax benefit and a lower tax expense due to the new USA tax legislation introduced in December 2017.
Chairman, Mr Rob Campbell, said, “it is pleasing to see most of the core businesses continue to improve, as well as seeing the El Monte RV business outperform our expectations for the calendar year. The new joint venture announced last week with Thor Industries will only enhance the prospects of thl. We remain focused, aware of our opportunities to improve what we have today, whilst creating another exciting future.”

Earnings per share were up 95% and the net debt of $178M was below the forecast of $200M.

CEO, Mr Grant Webster, said, “we increased our debt to acquire El Monte RV and have delivered to stage one of the integration of that business, whilst reducing debt further than originally planned. The outlook remains positive and we will continue to grow in a sensible but global manner.”

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

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