NZ's Tourism Holdings profit seen below previous yr

Mon Nov 10, 2008 8:12pm EST
 
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WELLINGTON, Nov 11 (Reuters) - New Zealand tourism operator Tourism Holdings Ltd (THL.NZ) said on Tuesday it expected its year profit to come in well down on the previous year because of the global downturn.

"We expect a very challenging second six months as well but are unable to fully quantify the impact on the year end at this point, however reported NPAT (net profit after tax) for the year will be well below last year's NZ$14.3 million ($8.4 billion)," said Chairman Keith Smith in a speech to shareholders.

Shares in Tourism Holdings last traded down three cents or 3.3 percent to NZ$0.87, a near five-year low.

The company operates tourism attractions and fleets of rentals vehicles in New Zealand and Australia. ($1=N$1.71) (Reporting by Gyles Beckford)

 

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