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AUCKLAND, New Zealand — New Zealand tourism company Tourism Holdings Limited (THL) announced today that it has lowered profit expectations following a decline in the U.S. RV market.
In a notice sent out today, The company now expects net operating profit after tax (NPAT) to be between $25 million to $28 million for the year ending June 30.
The previously announced guidance was for NPAT of around $32 million.
The primary reason for the revised guidance is that the vehicle sales market in the United States has continued to deteriorate and THL’s expectations for the financial year are now substantially below previous forecasts, the announcement indicated.
Performance in the New Zealand and Australian markets remain on track with a solid outlook, the company noted.
A decisive operational and capital review of U.S. operations has been launched and an update on that review will be provided to the market before the end of May.
SOURCE: Tourism Holdings Limited bulletin