The board of Tourism Holdings Limited (THL), New Zealand’s largest campervan rental operator, has announced it will remain a publicly listed company.
THL will use its balance sheet flexibility to make acquisitions for growth either domestically or internationally says the board.
It has also announced some operational initiatives around selling more services to rental customers as well as vehicle sales.
This announcement follows the completion of a strategic review of the company’s capital structure by First NZ Capital.
THL says it is targeting growth in net profit after tax (NPAT) to at least $30M in the 2019 financial year from the existing businesses.
The board says this is before any acquisitions or greenfields development. The internal work completed through the strategic review provides the basis for this goal.
THL is preparing to announce some new operational initiatives at both the annual results release and annual meeting in November.
While still in progress, THL says these initiatives will increase revenue and earnings, by selling more services to rentals customers and vehicle sales in the New Zealand market.
