Tourism Holdings profits Rises

New Zealand's Tourism Holdings (THL) has reported half-year net profit after tax up 3.7% to $4.9 million.

The result for the six months to the end of December 2007 was achieved on revenue from ordinary activities up 11.5% from the previous corresponding period to $82.2 million.

Last year the company was the target of a failed takeover offer from Australia's MFS Living and Leisure Group at an offer price of $2.80 a share.

THL attractions such as Kelly Tarlton's operations in Auckland, the Waitomo Glowworm Caves and Milford Sound Red Boats, performed below expectations in this period, a decline blamed on a decline in the Japanese, British and Korean markets, which softened the start of the tourism season in New Zealand.