first_imgSource = e-Travel Blackboard: N.J Tourism Holding Limited (THL) is concerned recent natural disasters could prevent the group from fulfilling its banking covenants for the March 2011 quarter. “Due to the quantum of the profit downturn THL is now forecasting that it will not be in compliance with banking covenants for the… quarter,” THL chairman Keith Smith said in a statement. Despite confirming its half year results to 31 December 2010 were in line with forecasted revenue, the drop in bookings over January could prevent the group from reaching its revenue intake for the financial year. “Natural  disasters  including  the  recent  Queensland  floods,  a  greater  than  anticipated decline  from  the  United  Kingdom  market  and  poor  January  domestic  tourism  in  both countries  are  considered  the  causal  factors  in  the  decline,” the statement read. The group has entered discussion with its bankers Westpac and ANZ and said it will update the market once the banks have reviewed the updated forecasts. The company expects Net Profit After Tax (NPAT) of -$4 million, a depreciation from the previous $2.5 million forecasted profit.THL is hoping to release new figures towards the end of February. last_img

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