TRT
TRT
Tourvest - Tourvest in new growth phase
Tourism Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/008144/06)
Share code: TRT
ISIN: ZAE000012472
TOURVEST IN NEW GROWTH PHASE
Johannesburg, 27 September 2006 - Tourvest has embarked on a new growth
phase in which it will use its world-class skills to penetrate new markets,
says chairman Carol Scott in the annual report published today.
Scott notes that the restructuring and refocusing of the group over the past
three years had transformed Tourvest into a much better business - as
evidenced by its robust performance in the financial year to 25 June - and
had built a solid foundation for future growth.
"A major component of this growth will be the leveraging of the group"s
proven - and, in some sectors, world-class - skills into new markets.
The widening of Tourvests"s geographic and operational horizons has already
started," she says.
The group has in recent months extended its retail travel operations into
Nigeria and Ghana, acquired majority interests in a Caribbean souvenir store
chain and an East African tour operator, and entered the tourism
accommodation market through the acquisition of the Adderley Hotel in Cape
Town, the Makalali game lodge in Limpopo and the hotel management business
Relais Hotels. It has also been awarded a concession to develop a new
luxury camp in Tanzania"s Serengeti game reserve.
"The focus on fresh markets does not mean that the group will lessen its
emphasis on organic growth and the expansion of existing operations. It
does, however, recognise that Tourvest already holds such a large share of
its traditional markets that significant growth has to be sought elsewhere,"
says Scott.
For further information call Tommy Edmond, CEO, on 011 728 0540
Issued by du Plessis Associates on behalf of Tourism Investment Corporation.
dPA contact Helen McKane Tel : +27 11 728 4701, Fax: +27 11 728 2547,
Mobile: 082 330 2034 or e-mail: tourvest@dpapr.com
Sponsor : Investec Bank Limited
website : www.tourvest.co.za
Date: 27/09/2006 10:00:03 AM Produced by the JSE SENS Department
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