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THL | |||
14/09/2020 11:01 | |||
MKTUPDTE | |||
PRICE SENSITIVE | |||
REL: 1101 HRS Tourism Holdings Limited | |||
MKTUPDTE: THL: Updated FY20 guidance | |||
14 September 2020 | |||
MEDIA | NZX RELEASE | |||
TOURISM HOLDINGS LIMITED (thl) | |||
UPDATED FY20 GUIDANCE | |||
thl advises that it expects its underlying net profit after tax for the | |||
financial year ending 30 June 2020 (FY20) will be approximately $20 million. | |||
This compares to thl's previous guidance range of $17.5 - $19.5 million, as | |||
released on 25 June 2020. | |||
This underlying result excludes the impact from a number of one-off items, | |||
including the partial Togo exit undertaken in March 2020 which resulted in a | |||
one-off gain of $9.3M including tax and foreign exchange benefits, a one-off | |||
tax benefit of $1.1M in the USA and the write-off of $3.1 million of goodwill | |||
attributed to Kiwi Experience. thl's FY20 statutory net profit after tax, | |||
which is inclusive of these one-off items, is expected to be approximately | |||
$27 million. | |||
thl's net debt (bank borrowings less cash and cash equivalents) as at 30 June | |||
2020 was approximately $128 million. This compares to earlier expectations of | |||
net debt of approximately $133 million, as noted in thl's market release on | |||
31 July 2020. The variance was primarily attributable to the continued | |||
outperformance of vehicle sales, particularly in the United States. | |||
thl will be releasing its financial results for FY20 on Friday, 18 September | |||
2020. | |||
ENDS |
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