Inbound travel 'challenging' after quake - STH
Southern Travel Holdings says travellers out of Japan are cancelling holidays in New Zealand after the February 22 earthquake in Christchurch.
Southern Travel Holdings says travellers out of Japan are cancelling holidays in New Zealand after the February 22 earthquake in Christchurch.
The provider of services to the travel and tourism sector today reported a loss of $79,000 in the six months to December 31, which is reduced from a $538,000 loss in the previous year.
Earnings before interest, tax, depreciation and amortisation and foreign exchange variation of $119,000 were a turnaround from a $436,000 loss in the same period in the previous year.
The company is not paying an interim dividend. It had revenue of $14.129 million, up 40.6 percent on the previous period.
"We were anticipating that the peak travelling months to southern hemisphere would enable us to achieve second half profitability in the inbound division, however this period is now one of increased challenge following a number of cancellations received out of Japan as a result of the Christchurch earthquake on February 22," the company said.
"We are working through the challenges which have now presented themselves in the second half of this financial year and while there are no short-term solutions, we are minimising non essential costs."
NZPA
Thu, 10 Mar 2011
Thu, 10 Mar 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Inbound travel 'challenging' after quake - STH
12978