The half-year result to December was supported by a planned reduction in camper van fleet sizes and sales, increasing tourism demand, especially from US and Chinese visitors and management focus on profit margins.
Total operating revenues were down 2% to $109.7 million, earnings before interest and tax (ebit) grew from $7.2 million to $10.6 million, and after-tax profit grew from $2.5 million a year ago to $5.6 million.
Tourism Holding's chairman Rob Campbell confirmed the company anticipated an after-tax profit for the full year of ''at least $17 million''.
Craigs Investment Partners broker Peter McIntyre said key drivers of the result were low fuel costs around the world, which also encouraged air transport, and a strong tailwind from New Zealand's domestic economy.
He described earlier years of management and results as ''lacklustre and shocking'', but there had now been a ''major turnaround'' in management.
''This very strong result is confirmation management are doing a really good job. For so long that has been problematic for the company,'' he said.
He highlighted the rejection of MSF Living and Leisure's takeover, offered at $2.80 per share in 2007. Within two years its shares had slumped to trade around 41c.
Tourism Holding's shares were up just 1c at $1.88 yesterday after the announcement, but Mr McIntyre predicted the improved management strategy would prompt brokers to consider a positive rerating of the company.
Tourism Holdings increased its dividend, from 5c a year ago to 7c yesterday.
Chief executive Grant Webster said the company was operating in a ''positive tourism environment'' and had addressed ''the core operating issues within the business''.
