THL has upgraded its FY26 earnings guidance after stronger-than-expected trading and vehicle sales lifted performance in the final weeks of the financial year.
The company now expects underlying net profit after tax (uNPAT) from continuing operations of about $46 million for the year ended June 30, up from its previous guidance of $40m-$43m.
The improved outlook is based on unaudited management accounts and remains subject to completion of the external audit and final accounting and tax adjustments.
THL says the improved result was driven by favourable year-end interest outcomes, strong late booking trends across all markets and vehicle sales in New Zealand performing at the upper end of expectations.
The company’s net debt also came in below previous guidance. Reported net debt at June 30 was $436m, compared with earlier expectations of $460m-$470m, primarily due to timing differences around year end.
Based on average balances over the four weeks from mid-June to mid-July, normalised net debt was $453m, broadly in line with expectations.
Looking ahead, THL says forward booking trends remain positive.
North American bookings are significantly ahead of the previous year, with bookings in the United States more than 50% higher in recent weeks.
Australia and New Zealand forward bookings have also returned to growth following disruption linked to geopolitical events in the Middle East between March and June.
While global uncertainty remains, THL says it is increasingly confident about the FY27 southern hemisphere summer season and sees improved opportunities for growth in Australia and New Zealand.
THL will release its audited full-year results and integrated report on August 25.
