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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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.
