Tourism Holdings Limited today releases its results for the financial year ending June 30, 2020.
"thl’s result for FY20 is, in the Board’s review, an admirable achievement given the shock to the business from COVID-19 since March," says thl chair Rob Campbell.
"The result is a testament to the resilience, intellectual capability and dedication of our people and our organisation.
“There is considerable uncertainty over the coming 12 months, however we are confident that we have the right skills and capabilities to lead thl through these turbulent times and through to a recovery in international tourism. We are constantly assessing all potential scenarios and actively responding to developments as they occur.”
"In the last six months of FY20, we have had an unwavering focus on managing the impact of international border closures and lockdown measures on our core businesses, while developing and implementing new product offerings as an essential services provider,and capitalising on growth in demand for RVs to effectively manage our balance sheet by reducing debt," says thl chief executive Grant Webster.
“With good control of the balance sheet and strong ongoing demand for RV sales to date, we have prepared ourselves to operatein the current domestic market environment, and are appropriately positioned to recover at pace when international tourism returns.”
As previously advised, given current market conditions no final dividend has been declared for FY20.