Tourism : 26Feb2021 - thl FY21 Interim Results

Tourism Holdings Limited

Interim consolidated financial statements for the six months ended 31 December 2020

For and on behalf of the Board:Rob Campbell Chair of the Board

25 February 2021

Rob Hamilton

Chair of the Audit Committee

Consolidated income statement

For the six months ended 31 December 2020 (Unaudited)

Unaudited 6 months to Dec 2020	Unaudited 6 months to Dec 2019	Audited 12 months to Jun 2020
Notes Sales of services Sales of goods	$000's 68,831 136,997	$000's 148,394 59,058	$000's 257,437 143,493
Total revenue	205,828	207,452	400,930
Cost of sales	(116,890)	(51,283)	(125,502)
Gross profit	88,938	156,169	275,428
Administration expenses Operating expenses Other income(expense), net 2	(18,030) (75,659) 6,582	(24,875) (102,015) 1,722	(44,212) (185,685) 3,080
Operating profit before financing costs*	1,831	31,001	48,611
Finance income Finance expenses	18 (5,732)	216 (6,816)	427 (13,369)
Net finance costs	(5,714)	(6,600)	(12,942)
Share of profit/(loss) from associates 9 Share of profit/(loss) from joint ventures 8	750 210	214 (5,887)	(376) (9,151)
(Loss)/profit before tax	(2,923)	18,728	26,142
Income tax benefit/(expense) 3	1,155	(5,675)	1,214
(Loss)/profit for the period	(1,768)	13,053	27,356
(Loss)/profit is attributable to: Equity holders of the Company Non-controlling interests 9	(1,433) (335)	13,053 -	27,356 -
(1,768)	13,053	27,356

12 months to

Jun 2020

$000's

257,437 143,493 400,930 (125,502)

275,428 (44,212)

(185,685)

3,080

48,611 427 (13,369)

(12,942)

(376) (9,151)

26,142 1,214

27,356

27,356

27,356

Earnings per share from (loss)/profit attributable to the equity holders of the Company during the period Basic earnings per share (in cents) Diluted earnings per share (in cents)

(1.0) (1.0) 8.9 18.6 8.6 18.6

18.6 18.6

* The consolidated income statement includes one non-GAAP measure (that is, operating profit before financing costs or "EBIT") which is not a defined term in New Zealand International Financial Reporting Standards (NZ IFRS). The Directors and management believe that this non-GAAP financial measure provides useful information to assist readers in understanding the Group's financial performance. This measure should not be viewed in isolation and is intended to supplement the NZ GAAP measures, therefore may not be comparable to similarly titled amounts reported by other companies.

The accompanying notes form part of, and should be read in conjunction with, these financial statements.

Consolidated statement of comprehensive income

For the six months ended 31 December 2020 (Unaudited)

Unaudited 6 months to Dec 2020	Unaudited 6 months to Dec 2019	Audited 12 months to Jun 2020
Notes $000's (Loss)/profit for the period	$000's 13,053	$000's
(1,768) 27,356 Other comprehensive income Items that may be reclassified subsequently to profit or loss Foreign currency translation reserve movement (net of tax) 16 (12,581) (617) Cash flow hedge reserve movement (net of tax) 1,699 626 (2,624) (2,212)
Other comprehensive (loss)/ income for the period net of tax	(10,882)	9	(4,836)
Total comprehensive income for the period attributable to equity holders of the Company	(12,650)	13,062	22,520
Total comprehensive income for the period is attributable to: Equity holders of the Company Non-controlling interests	(12,315) (335)	13,062 -	22,520 -
(12,650)	13,062	22,520

12 months to

Jun 2020

$000's

27,356

(2,624) (2,212)

(4,836)

22,520

22,520

22,520

The accompanying notes form part of, and should be read in conjunction with, these financial statements.

Consolidated statement of changes in equity

For the six months ended 31 December 2020 (Unaudited)

Share capital	Retained earnings	Cash flow hedge reserve	Other reserves	Non- controlling interests	Total equity
Opening balance as at 1 July 2020 Comprehensive income Net profit for the six months ended 31 December 2020 Other comprehensive income Cash flow hedge reserve movement (net of tax) Foreign currency translation reserve movement (net of tax)	Notes 16	$000's 269,988 - - -	$000's 55,815 (1,433) - -	$000's (6,695) - 1,699 -	$000's 5,991 - - (12,581)	$000's - (335) - -	$000's 325,099 (1,768) 1,699 (12,581)
Total comprehensive income Transactions with owners Issue of ordinary shares (net of issue costs) Non-controlling interests arising on a business combination Transfer from employee share scheme reserve Employee share scheme reserve	10 9	- 78 - - -	(1,433) - - 147 -	1,699 - - - -	(12,581) - - (147) 1,039	(335) - (2,020) - -	(12,650) 78 (2,020) - 1,039
Total transactions with owners	78	147	-	892	(2,020)	(903)
Closing balance as at 31 December 2020	270,066	54,529	(4,996)	(5,698)	(2,355)	311,546

Total equity $000's 325,099

(1,768)

1,699

(12,581)

(12,650)

78

(2,020)

1,039 (903)

311,546

The accompanying notes form part of, and should be read in conjunction with, these financial statements.