3 days Ago
Campervan business Tourism Holdings (THL) says recent global geopolitical and tariff developments have significantly weakened its operating environment and full year profit outlook. THL said there had been a further deterioration in vehicle sales demand, with volumes and margins down along with consumer confidence in key markets. As a result, it expected underlying full year profit for the year ending in June to be significantly down on analysts' consensus of $45.
2 million. It said its outlook commentary offered in February was also trending negatively. "Based on the current trading outlook THL has no need or intention to raise equity and is comfortable with its banking covenant position," THL said in a market statement.
In addition, there had been a sharp drop in interest for inbound travel to the United States, with bookings from key European countries falling about 40 percent to 50 percent on the last week, compared with the year earlier. "There is no current indication that international bookings for USA rentals will improve before the start of the high season in June," it said. "Although domestic rental demand in the USA has increased slightly, this growth is not expected to materially offset the expected shortfall in international bookings.
" However, it said other rental markets, particularly Canada, were experiencing some growth in rental demand, though would not compensate for the lost international bookings for the USA, in the year ending June. "Even before the recent developments, rentals in Canada were on track to operate near full utilisation during the high season, leaving minimal additional capacity. "Outside of the USA, rental bookings are trending positively for FY26 with year-on-year growth in all markets.
" The company said it was closely monitoring developments affecting and would provide an update once there was greater certainty..
