THL Results Announcement Six Months Ended 31Dec08

NZX RELEASE

TOURISM HOLDINGS LIMITED

RESULTS ANNOUNCEMENT

SIX MONTHS ENDED 31 DECEMBER 2008

Wednesday 18th February 2009

Name of Listed Issuer : Tourism Holdings Limited

For the half year ended : 31 December 2008 Unaudited Results

This report has been prepared in a manner which complies with New Zealand International Financial Reporting Standards (NZIFRS) and gives a true and fair view of the matters to which the report relates and is based on unaudited financial statements.

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

Total Operating Revenue $80m; Down 7%; $86.3m

Operating surplus from continuing operations before tax $(6.7m); Down 197%, $6.9m

Less tax on operating profit $(1.9m); Down 200%; $1.9m

Operating surplus after tax from continuing operations $(4.8m); Down 196%; $5.0m

Profit from discontinued operations after tax $4.5m; n/a%; $(0.1m)

Surplus after tax attributable to members of the listed issuer; $(0.3m); Down 106%; $4.9m

Earnings per share from continuing operations (4.9cps); Down 195%; 5.1cps

No dividend declared (5cps in pcp)

KEY POINTS

• Revenue from continuing businesses down 7% to $80m

• Net Profit After Tax (NPAT) loss of $0.3m vs profit of $4.9m for the prior period

• Debt reduced $16m over the 12 month period

• Balance sheet ratios improved with debt to debt plus equity improving to 34% as at December 2008 from 39% pcp

• Ci Munro EBIT loss of $3.2m

• Yield impacts across all Rentals businesses

• Tourism businesses Waitomo and Kiwi Experience performed well

• $46m cash received from asset / business sales

• No interim dividend declared vs 5cps in the prior period

• Tourism sector outlook remains mixed, but THL is in a strong competitive position

...

See...
090218___NZX_Release_Six_Months_ended_31Dec08.pdf
THL_divisional_split_31_Dec_08.pdf
THL_operational_review_pre_and_post_NZIAS16_31_Dec_08.pdf
THL_financial_analysis_6_months_to_31_Dec_2008.pdf
THL_unaudited_statutory_accounts_6_months_to_31_Dec_08.pdf

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