19 Oct 2010

Tourism Holdings forecasts $1m half-year loss

7:36 am on 19 October 2010

Tourism Holdings has revised its outlook and now says it expects to make a half-year loss.

The campervan rental company says the strong New Zealand and Australian dollars are putting tourists off spending, and it expects to make a loss of $1 million in the six months to December, in contrast to its $1.4 million profit the previous six months.

Tourism Holdings chairman Keith Smith says fewer backpackers and visitors from the United Kingdom are arriving which has forced operators to cut prices, and that has in turn affected the business.

The company will release its full year forecast in February.