THL signals divestment of Euro business after $25.8m loss
It will likely be another year of chopping and changing for the world’s biggest campervan operator with a ‘strategic review’ heralding a divestment from its UK and Ireland business.
Revenue: Down 6% on the prior year at $451 million
Statutory net loss: of $25.8m, on $54.5m in write-downs
Main takeaway: Campervan and tourism company looks to cost cutting, recovery in its core markets, and possible divestment of its European interests for its recovery.
Tourism Holdings says it’s actively exploring divesting its UK and Ireland business and reallocating funds to markets where it sees “better returns on effort and investment”.
On Monday, the dual-listed company reported a $25.8 million after tax loss on the back of impairments of $54.5m,
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Key points
Revenue: Down 6% on the prior year at $451 million
Statutory net loss: of $25.8m, on $54.5m in write-downs
Main takeaway: Campervan and tourism company looks to cost cutting, recovery in its core markets, and possible divestment of its European interests for its recovery.
