Tourism Holdings Limited (THL) released trade results for the second half of 2011, showcasing a turnaround in performance and a recommencement in dividend returns.

The company posted revenue increases of 27 percent, totalling $108 million resulting in a net profit of $4.2 million.

Chairman, Keith Smith cited the success of the Rugby World Cup in New Zealand and high-season profit from newly acquired business, Road Bear in the USA.

“The Board is encouraged by the performance of the business at present, in an operating environment that continues to be very difficult,” he said.

Road Bear, an RV rentals and sales business, was attained by THL in December 2010 and is exceeding all expectations, posting first-half earnings of $6.1 million.

Earlier in the week, THL announced a joint venture with Kea Manufacturing Limited (NZ), comprising the production of rental vehicles in New Zealand.

The joint venture provides an outstanding and rare opportunity to create a step change in cost and efficiency, and a platform for strong profit growth in that business,” Mr Smith said.