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

Tourism Holdings

09/05/2023 03:49

(Updates share movement and milestones, adds moves of
ASX-listed shares)
    ** New Zealand's Tourism Holdings Ltd  THL.NZ  falls as much
as 10.6% to NZ$3.80, its worst intraday pct drop since June 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
    ** Stock at its lowest level since Feb. 23; nearly 650,000
shares change hands, vs 30-day average of ~126,000 shares
    ** THL biggest loser on NZX Main Board  .NZ50 ; up 22.8%
this year, as of last close
    ** ASX-listed shares of THL  THL.AX  drop as much as 11% to
A$3.535, topping losses on ASX All Ordinaries Index  .AORD 

($1 = 1.5763 New Zealand dollars)

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