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Asia

New Zealand Shares at All-Time High; Tourism Holdings Logs Earnings in Fiscal 2026, Revenue Down

New Zealand shares reached an all-time high on Tuesday while Asian markets were mixed ahead of much-awaited Nvidia earnings.The S&P/NZX 50 Index gained 0.8% or 110.84 points to close at 13,992.72, reaching its all-time high within the session.On Monday, the S&P 500 lost 0.3%, and the Nasdaq Composite fell 0.8%, while the Dow Jones added 0.3%.Analysts expect the US-listed chipmaking giant Nvidia ​to almost double its quarterly revenue to around $92 billion, with full-year earnings guidance seen in a range of $103 billion to $105 billion, according to a Tuesday Reuters report.The US threatened Iran with sweeping new economic sanctions targeting its trade partners on Monday, while Iran warned it would halt all oil exports from the Gulf if the financial pressure continued, according to a Monday Reuters report.In domestic news, the Reserve Bank of New Zealand is expected to hike the official cash rate by 25 basis points at its September meeting, taking the rate to 2.75%, ANZ said in a noteIn corporate news, Tourism Holdings (ASX:THL, NZE:THL) logged NZ$0.1735 in earnings per share for fiscal 2026, compared with a loss of NZ$0.1172 a year ago.Vulcan Steel (ASX:VSL, NZE:VSL) logged NZ$0.151 in adjusted earnings per share for fiscal 2026, compared with NZ$0.136 a year ago.

^NZ50ASX:THLASX:VSLNZE:THLNZE:VSL
Asia

Tourism Holdings Logs Earnings in Fiscal 2026, Revenue Down

Tourism Holdings (ASX:THL, NZE:THL) logged NZ$0.1735 in earnings per share for the fiscal 2026, compared with a loss of NZ$0.1172 a year ago, a Tuesday filing showed.For the 12 months ended June 30, revenue was NZ$852.9 million versus NZ$894.1 million previously, the dual-listed tourism operator added.The board declared a final dividend of NZ$0.075 per share, up from NZ$0.04 a year earlier, payable Oct. 2 to shareholders on record as of Sept. 18.

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Asia

Tourism Holdings Raises Fiscal 2026 Underlying Net Profit Outlook; Shares Up 3%

Tourism Holdings (NZE:THL, ASX:THL) now expects fiscal 2026 underlying net profit after tax (NPAT) from continuing operations of around NZ$46 million, up from its previous guidance range of NZ$40 million to NZ$43 million, according to a Thursday filing with the Australian and New Zealand bourses.The company attributed the outlook upgrade to favorable year-end interest outcomes, strong late booking trends across its markets, and New Zealand vehicle sales performing at the upper end of expectations.Tourism Holdings also said forward booking trends remain positive, with US bookings more than 50% higher than a year earlier in recent weeks and Australia and New Zealand forward bookings returning to growth.The company is "increasingly confident" in the outlook for the fiscal 2027 Southern Hemisphere summer season, it said.The company's New Zealand shares jumped 3% in recent Thursday trade.

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Asia

Tourism Holdings Grants Due Diligence Access to BGH-Trouchet Consortium

Tourism Holdings (ASX:THL, NZE:THL) entered into a confidentiality agreement with a consortium led by BGH Capital and the family interests of Luke and Karl Trouchet, enabling due diligence on a potential acquisition at an indicative all-cash offer of at least NZ$3.10 per share, according to Friday filing with the New Zealand bourse.The company said granting due diligence access does not mean board support or a commitment to a deal, adding that there is no assurance that either the consortium's revised offer or a strategic buyer's proposal will result in a transaction.The company added that shareholders are not required to take any action at this stage.

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Wire

Update: Tourism Holdings Receives Additional Non-Binding Takeover Offer From Unnamed 'Credible Strategic' Buyer; Shares Over Two-Year High

(Updates to add stock movement in the headline and the last paragraph)Tourism Holdings (ASX:THL, NZE:THL) received an additional non-binding indicative offer from an unnamed "credible strategic" buyer to acquire 100% of the company at a proposed price of NZ$3.30 to NZ$3.40 per share, according to a Thursday filing with the New Zealand and Australian bourses.The proposal is subject to customary conditions, including due diligence, board approval, regulatory and third-party consents, and unanimous board recommendation, subject to standard fiduciary carve-outs, per the filing.The company has allowed the bidder to conduct due diligence under a confidentiality agreement while emphasizing that no decision has been made and there is no assurance that a transaction will proceed, the filing said.The company is also engaged in discussions with the BGH consortium on a similar confidentiality agreement to support due diligence, the filing added.The company's shares on the New Zealand bourse rose 12% in Thursday trading and earlier reached their highest level since April 2024, while Australian shares gained 11%.

ASX:THLNZE:THL
Asia

Tourism Holdings Receives Additional Non-Binding Takeover Offer From Unnamed 'Credible Strategic' Buyer

Tourism Holdings (ASX:THL, NZE:THL) received an additional non-binding indicative offer from an unnamed "credible strategic" buyer to acquire 100% of the company at a proposed price of NZ$3.30 to NZ$3.40 per share, according to a Thursday filing with the New Zealand and Australian bourses.The proposal is subject to customary conditions, including due diligence, board approval, regulatory and third-party consents, and unanimous board recommendation, subject to standard fiduciary carve-outs, per the filing.The company has allowed the bidder to conduct due diligence under a confidentiality agreement while emphasizing that no decision has been made and there is no assurance that a transaction will proceed, the filing said.The company is also engaged in discussions with the BGH consortium on a similar confidentiality agreement to support due diligence, the filing added.

ASX:THLNZE:THL
Asia

Tourism Holdings Grants Due Diligence Access to Consortium for Proposed Acquisition; Shares Rise 6%

Tourism Holdings (ASX:THL, NZE:THL) granted due diligence access to a consortium comprising BGH Capital and the family interests of Luke and Karl Trouchet for a proposed acquisition of the company, according to a Friday filing with the Australian and New Zealand bourses.The consortium has proposed to acquire Tourism Holdings at an indicative all-cash offer price of NZ$3.10 per share.The company said it granted the due diligence access after the consortium confirmed it was willing to hold its offer at that price level following a cut to Tourism Holdings' fiscal year 2026 underlying net profit after tax guidance.Tourism Holdings will continue to work with the consortium on a potential deal, but warned that the decision to grant due diligence access does not constitute a recommendation on the offer.The company's Australia-listed shares gained 6% in recent Friday trade.

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Research

Forsyth Barr Downgrades Tourism Holdings to Neutral from Outperform; Price Target is NZ$3.10

Tourism Holdings (NZE:THL, ASX:THL) has an average rating of overweight and mean price target of NZ$3.08, according to analysts polled by FactSet.

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Asia

Tourism Holdings Appoints Chief People, Capability Officer

Tourism Holdings (ASX:THL, NZE:THL) appointed Kylie Elsom as chief people and capability officer, effective September, according to a Tuesday filing with the Australian and New Zealand bourses.Elsom most recently worked at Pie Funds New Zealand, the filing added.

ASX:THLNZE:THL
Research

Ord Minnett Downgrades Tourism Holdings to Hold from Buy; Price Target is NZ$2.65

Tourism Holdings (NZE:THL, ASX:THL) has an average rating of overweight and mean price target of NZ$3.21, according to analysts polled by FactSet.

ASX:THLNZE:THL
Asia

Update: Tourism Holdings Receives New Takeover Offer From BGH-Trouchet Consortium; Cuts Fiscal 2026 Profit Outlook; Shares Gain 28%

(Updates with the stock movement in the headline and last paragraph.)Tourism Holdings (ASX:THL, NZE:THL) said it has received a revised unsolicited, conditional and non-binding takeover approach from a consortium comprising BGH Capital and the family interests of Luke and Karl Trouchet, according to a Friday filing with the Australian and New Zealand bourses.The consortium currently owns nearly 20% of the company's shares, per the filing.The proposal values the company at NZ$3.10 per share in cash and remains subject to several conditions, including due diligence, financing arrangements, regulatory approvals, and unanimous board approval, the filing said.Shareholders representing about 16% of the company shares support engagement with the consortium and due diligence access, while the board said it will assess the proposal in shareholders' best interests and noted there is no certainty a deal will proceed, the filing added.In a separate filing, the company lowered its fiscal 2026 underlying net profit after tax forecast to NZ$40 million to NZ$43 million from NZ$43 million to NZ$47 million, citing global travel disruptions, weak consumer confidence, softer Australian rental demand, Middle East conflict impacts on vehicle sales, and foreign exchange headwinds.The company also raised its net debt forecast at June 30 to NZ$460 million to NZ$470 million from below NZ$400 million, citing weaker vehicle sales, adverse foreign exchange movements, and working capital pressures, according to a separate filing.Shares of Tourism Holdings surged 28% in Australia in recent Friday activity. Its Kiwi shares climbed 22% and earlier hit their highest since April 2024.

ASX:THLNZE:THL
Asia

Tourism Holdings Receives Revised Takeover Proposal From BGH-Trouchet Consortium; Lowers Fiscal 2026 Profit Outlook

Tourism Holdings (ASX:THL, NZE:THL) said it has received a revised unsolicited, conditional and non-binding takeover approach from a consortium comprising BGH Capital and the family interests of Luke and Karl Trouchet, according to a Friday filing with the Australian and New Zealand bourses.The consortium currently owns nearly 20% of the company's shares, per the filing.The proposal values the company at NZ$3.10 per share in cash and remains subject to several conditions, including due diligence, financing arrangements, regulatory approvals, and unanimous board approval, the filing said.Shareholders representing about 16% of the company shares support engagement with the consortium and due diligence access, while the board said it will assess the proposal in shareholders' best interests and noted there is no certainty a deal will proceed, the filing added.In a separate filing, the company lowered its fiscal 2026 underlying net profit after tax forecast to NZ$40 million to NZ$43 million from NZ$43 million to NZ$47 million, citing global travel disruptions, weak consumer confidence, softer Australian rental demand, Middle East conflict impacts on vehicle sales, and foreign exchange headwinds.The company also raised its net debt forecast at June 30 to NZ$460 million to NZ$470 million from below NZ$400 million, citing weaker vehicle sales, adverse foreign exchange movements, and working capital pressures, according to a separate filing.

ASX:THLNZE:THL

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