Tourism Holdings' Australian shares hit record low on earnings forecast cut

Tourism Holdings

06/05/2024 03:40

(Recasts to add ASX shares, updates milestones)
    ** ASX-listed shares of Tourism Holdings  THL.AX  slump as
much as 38.5% to an all-time low of A$1.605
    ** NZ shares of co  THL.NZ  plunge as much as 38.7% to
NZ$1.760, their lowest level since Aug. 21, 2020 
    ** New Zealand-based tourism operator trims FY24 net profit
after tax guidance to NZ$50 mln to NZ$53 mln ($30.06 mln to
$31.86 mln), from earlier forecast of NZ$75 mln
    ** Says expectations for FY25 now below FY23 pro forma NPAT
of NZ$77.1 mln
    ** Weakening economy impacted most regions and business
divisions negatively and lowered expectations into Q4 - co
    ** As of last close, co's NZ-stock has fallen 25.5% and ASX
stock has dropped 28.1% this year

($1 = 1.6636 New Zealand dollars)

 (Reporting by Poonam Behura and Himanshi Akhand in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))