Profit at Tourism Holdings is down by 80% due to the depressed global tourism market.
The company made a profit of $2.9 million in the June year, compared with $14.3 million the previous year, which was due to asset sales.
Stripping out gains from the sales of Kelly Tarlton's, Red Boats and its stake in Intercity, Tourism Holdings made a loss of $1.4 million.
Chief executive Grant Webster says customer demand in all its businesses was down.
The company posted a smaller loss in its campervan-making business CI Munro, but revenue from its rental business was flat and only slightly up in its attractions businesses.
Tourism Holdings will not pay a dividend this year, which Mr Webster says is a prudent move given the company's result.
Tourism Holdings shares fell 2 cents, or 4%, to 54 cents after the announcement of Wednesday.