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Hot Topic Hawke’s Bay
Hot Topic Hawke’s Bay
Investment
3 mins to read

More than $200m wiped from Tourism Holdings in one day

Dual-listed tourism and recreational vehicle company punished after a ‘dramatic’ change to its earnings forecast.

Tourism Holdings lost 36% of its value in a single day.

Liam Rātana Tue, 07 May 2024
Key points
  • What’s at stake: Tourism Holdings faces significant financial pressure as it revises its FY24 profit forecasts downward by nearly a third, affecting stock value and investor confidence.
  • Background: Tourism Holdings, a prominent player in the tourism and RV market in New Zealand, has seen a drastic reduction in vehicle sales, particularly in Australia, prompting a major revision of its profit expectations and a steep decline in its stock price.
  • Key players: Tourism Holdings, Grant Webster

NZX-listed tourism and recreational vehicle company Tourism Holdings (THL) has had 36%, or $224 million, of its value wiped out in one day.

"It's a very, very strong reaction. It's going to take time for the company to rebuild investor confidence in the business," said Harbour Asset Management

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Liam Rātana Tue, 07 May 2024
Contact the Writer: liam@nbr.co.nz
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Key points
  • What’s at stake: Tourism Holdings faces significant financial pressure as it revises its FY24 profit forecasts downward by nearly a third, affecting stock value and investor confidence.
  • Background: Tourism Holdings, a prominent player in the tourism and RV market in New Zealand, has seen a drastic reduction in vehicle sales, particularly in Australia, prompting a major revision of its profit expectations and a steep decline in its stock price.
  • Key players: Tourism Holdings, Grant Webster
Company profile
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Change:
Price
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52 Week High
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More than $200m wiped from Tourism Holdings in one day
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