thl update on guidance for FY19

Tourism Holdings Limited
Tel: +64 9 336 4299
The Beach House
Email: info@thlnz.co.nz
Level 1, 83 Beach Road
www.thlonline.com
Auckland City

PO Box 4293, Shortland Street

Auckland 1140, New Zealand




12 August 2019

NZX ANNOUNCEMENT

TOURISM HOLDINGS LIMITED (thl)
UPDATE ON GUIDANCE YE 30 JUNE 2019

Adjusted Guidance for FY19 Financial results

thl is in the process of finalising its statutory accounts and audit for the 12 months to 30 June 2019.

As part of the tax provision assessment for the year end accounts, external advisers have identified one-off
tax benefits in the USA of approximately NZ$1.8m owing primarily to an allowance under the tax code to
carryback tax losses to previous tax years. The tax years that the losses were applied to had a higher tax rate
than the losses were previously valued at. As a result of this benefit, the company now expects to
comfortably exceed the top end of its guidance range for net profit after tax for the year of NZ$25 - $27m.

Excluding the impact of the tax benefits, thl expects that the results will be at or slightly above the top end of
the guidance range.

thl will report its full year results to the NZX on Tuesday 27 August 2019.


END

Authorised by:

Rob Campbell
Chairman, Tourism Holdings Limited

For further information contact:
Grant Webster
thl Chief Executive Officer
Direct Dial: +64 9 336 4255
Mobile: +64 21 449 210