Tourism Holdings invests

Tourism Holdings is tripling a planned investment in the fleet and facilities of its Australian rentals business this year, citing an Australian government stimulus package tax allowance as a catalyst.

It is paying shareholders a 2c a share interim dividend and is paying the bulk of its staff a 1.5 per cent one-time payment when a pay freeze ends in March.

Net profit in the six months to December 31 of $1.4 million compared to a loss of $300,000 a year earlier. Revenue rose 15 per cent to $92 million.

- NZPA