Tourism Holdings cuts profit outlook as takeover bid emerges

Tourism Holdings (THL), a campervan rental group, has downgraded its full-year net profit forecast for FY26 to $40–43 million from $43–47 million, citing softer consumer confidence, global travel disruption, and Middle East conflict impact on vehicle sales. The company also confirmed receiving a revised non-binding takeover proposal from a consortium led by BGH Capital and the Trouchet family, which already holds 19.9% of THL shares. The indicative offer is $3.10 per share in cash, expiring on June 12 if no response. THL shares rose nearly 30% on the NZX to $2.83.