NZ's Tourism Holdings drops on risks to annual profit outlook

Tourism Holdings

09/05/2023 02:32

** New Zealand's Tourism Holdings Ltd  THL.NZ  falls as much
as 7.8% to NZ$3.920, its worst intraday pct drop since Dec 2020
    ** Co says there is risk in achieving its FY23 profit
expectation of NZ$48 mln ($30.45 mln)
    ** Risks to achieving profit outlook "should vehicle sales
deliveries delay from Q4 FY23 into July/August 2023"
    ** Annual profit outlook compares with underlying net loss
after tax of NZ$5.4 mln last year
    ** Sees vehicle sales margins normalisation across markets
in FY24
    ** THL stock at its lowest level since April 5; more than
601,000 shares change hands, vs the 30-day average of 126,246
shares
    ** THL worst loser on the NZX Main Board  .NZ50 ; up 22.8%
this year, as of last close

    ($1 = 1.5763 New Zealand dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))