THL's chief executive said there had been growth in New Zealand, Australia, Canada and the UK and Ireland. Photo: 123RF
Campervan operator Tourism Holdings is expecting to return to profitable growth after a number of difficult years.
"With the exception of the US, we've had a strong start across all other markets on the rentals side of the business," THL chief executive Grant Webster told shareholders at Friday morning's annual meeting.
He said there had been growth in New Zealand, Australia, Canada and the UK and Ireland.
"Positively, our forward book for the remainder of the financial year for New Zealand, Australia and Canada are each sitting around 20 percent ahead of last year."
However, he said it was unlikely the growth rates would hold all year.
Webster said the company's focus was to execute its strategic plan, make the most of the ongoing recovery in international tourism and RV rentals, while continuing to reduce costs.
"We see FY26 as a transitional year as we implement these changes against a backdrop of continued weakness in RV sales and uncertainty around recovery timing.
"The benefits of these changes should be evident in FY27."
He said New Zealand rentals and sales, Australian rentals, Canada, UK/Ireland and the tourism businesses were expected to grow, though gains were likely to be partly offset by declines in the United States and Australian retail and manufacturing businesses.
"We're not providing profit guidance for FY26 at this stage, given we're only three months into the year and have a number of transformative actions underway," Webster said.
"That said, we remain confident that we've turned a corner and expect a return to NPAT (net profit after tax) growth in this financial year."
THL made a full year net loss $25.8 million in the year ended June 2025, mostly reflecting a drop in the value of its United States goodwill.
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