12 Sep 2011

Third year of losses for Southern Travel

1:34 pm on 12 September 2011

Southern Travel Holdings has reported a loss for the third successive year, though its result was improvement on last year.

The listed company lost $638,000 in the year to the end of June, a 32% improvement on last year.

Its revenue rose 23% to about $27 million.

Southern Travel chief executive Jacqui Walshe says the travel company was in a strong position until the earthquakes in Christchurch and Japan.

However she says Japanese tourists, which the company depends on, are starting to return.

Ms Walshe says Southern Travel Holding's outbound tourism ventures in Australia and New Zealand are flourishing due to the strength of both countries' currencies.

She says the company has signed new deals to represent airlines from India, Sri Lanka and Scandinavia and hopes the firm will return to profit next year.