Latest / Best of Business / Grant Webster: Tourism Holdings Limited CEO on the company's half-year profit dropping 36 percent

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Grant Webster: Tourism Holdings Limited CEO on the company's half-year profit dropping 36 percent · Best of Business

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  Speaker 2: Right now, we're doing camper van sales and rental company
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  Speaker 2: Tourism Holdings Why They have reported a sharp, sharp decline
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  Speaker 2: in profits, describing it as the most difficult period for
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  Speaker 2: the RV sales industry in decades. The firm reported a
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  Speaker 2: net profit of twenty five point three million dollars. Now,
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  Speaker 2: that's down thirty six percent on the period. Privas is
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  Speaker 2: for the six months to December. Grant Webster's the TIEV executive.
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  Speaker 2: He's with me now, high Grant.
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  Speaker 3: Yet Ay, Ryan, thanks for being with me.
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  Speaker 2: So this has been a tough time.
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  Speaker 3: Yeah, on the RV sales side, it certainly has, and
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  Speaker 3: that's around the globe. It's a very common sort of
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  Speaker 3: phenomenon that we've seen everywhere. But pleasingly, the sort of
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  Speaker 3: the tourism side, the rental side has actually been really positive,
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  Speaker 3: going from strength to.
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  Speaker 2: Strength, and especially in New Zealand, right.
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  Speaker 3: Yeah, New Zealand's been our standout performer and really big
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  Speaker 3: increase twenty plus percent increase in revenue, and fleet's gone
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  Speaker 3: up accordingly, and we've had a good.
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  Speaker 2: Summer, which doesn't make sense to me because you look
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  Speaker 2: at us, we're one of the few countries still left
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  Speaker 2: without not back to one hundred percent pre COVID levels
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  Speaker 2: in terms of our terrorism numbers, and yet you're you
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  Speaker 2: guys are doing well.
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  Speaker 3: I look basically essentially in the countries that we operate,
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  Speaker 3: no one's back to that level yet. And so you know,
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  Speaker 3: we were one of the last reopening and that's had
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  Speaker 3: this lag effect that we're still sort of seeing the
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  Speaker 3: benefit from that. One of our core markets is Germany.
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  Speaker 3: Germany has been one of the slowest to recover, so
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  Speaker 3: we've still got that bounce still to come and we're
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  Speaker 3: benefiting from it. Now.
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  Speaker 2: Interesting, do you know, do you guys forecast when we
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  Speaker 2: might get back to that level? This is something that
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  Speaker 2: you know, I mean, it's obviously a number you guys
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  Speaker 2: are interested in.
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  Speaker 3: Yeah, look, I mean that's more of a personal opinion
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  Speaker 3: based on the broader industry. I think it's sort of
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  Speaker 3: twenty seven to twenty eight summer season is probably when
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  Speaker 3: it's going to happen. It's it's not going to happen
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  Speaker 3: in the next twelve eighty months.
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  Speaker 2: Have you noticed a change in the types of tourists
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  Speaker 2: that you're seeing in the New Zealand market.
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  Speaker 3: You know what, it's actually quite quite boring that question
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  Speaker 3: in away from the way that I answer it, because
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  Speaker 3: trend is returning to trend. Everything's going back to how
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  Speaker 3: it was pre COVID, the same types of customers from
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  Speaker 3: the same markets, fortunately spending more and staying a little
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  Speaker 3: bit longer.
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  Speaker 2: That is not boring at all. That is exactly what
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  Speaker 2: we want to hear. Thanks returning to normal and with
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  Speaker 2: a bit more money to boot exactly exactly.
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  Speaker 3: Yeah, No, tourism. Tourism I think is in a good space.
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  Speaker 3: I mean, look at the announcements from the government over
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  Speaker 3: the last few weeks. It's very very positive. Been years
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  Speaker 3: since we've had that kind of positive commentary from the government,
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  Speaker 3: so ye're really supportive of it. We're in a good place.
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  Speaker 2: Does that change the way that you go about your business?
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  Speaker 2: Does that change the way you invest or where you invest?
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  Speaker 2: When they talk like that.
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  Speaker 3: This short answer is yes. You know, when you've got
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  Speaker 3: choices around the world, and you've got a government that
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  Speaker 3: is talking about how drive growth and the incentives to
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  Speaker 3: drive growth, then you your capital expenditure moves accordingly and
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  Speaker 3: you get more confidence. So absolutely, I think we are
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  Speaker 3: more bullish about New Zealand tourism than than what we
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  Speaker 3: were four months ago.
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  Speaker 2: Interesting stuff, Grant, Thank you for that. Grant moves to
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  Speaker 2: Tourism Holdings Chief executive.
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