Tourism Holdings is facing the biggest single challenge in its history with international borders closed to tourism.
Tourism Holdings has managed to keep its revenue stable in the first half of the year by selling down its campervan fleet as cash from rentals was cut in half after Covid-19 wiped out the international travel market that underpinned the business.
However that wasn’t enough to prop up profits, and the company on Friday posted a loss of $1.8 million for the six months to the end of December, from a profit of $13.1m in the year earlier period.
Revenue slipped 1 per cent to $205.8m, as money from rentals fell 50 per cent to $64.8m, while vehicle sales jumped 132 per cent to $137m.