19 Nov 2010

Lower performance expected by tourism group

6:38 am on 19 November 2010

Tourism Holdings expects to make about $5 million in the 2011 financial year - $1 million less than last year.

The listed tourism company which runs rental companies like Maui and Britz, as well as the Kiwi Experience bus operator and the Waitomo Caves, told shareholders at its annual general meeting that it's operating in uncertain times.

Chief executive Grant Webster says the company's performance is below expectations and there is still a rapid decline of visitors from Britain. He says THL is not where it wants to be.