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EVT LIMITED — Earnings Release 2009
Aug 19, 2009
64888_rns_2009-08-19_328ba517-a36f-4b58-925c-68ed9527f7f1.pdf
Earnings Release
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20[th] August 2009
ASX ANNOUNCEMENT
The listed entertainment, hospitality and leisure operator Amalgamated Holdings Limited (“AHL”) today announced a normalised profit (being profit before interest, discontinued operations, individually significant items and income tax) of $97.6 million, representing an increase of 26.8% over the prior year.
The nomalised net profit was $71million, an increase of $16.4million over the prior year. Individually significant items in the prior year included the gain on the dispersal of Roadshow Distributors Pty Ltd of $64.4million. As a result of the prior year’s individually significant items, the Groups net profit of $69.5million was $30million below the prior year result.
The Chairman of Amalgamated Holdings Mr Alan Rydge announced a final dividend of 21 cents per share bringing the total dividend for the year end 30 June 2009 to 32 cents, the 8[th] consecutive year of an increase in dividend.
In announcing the strong performance the Managing Director of Amalgamated Holdings Mr David Seargeant said: “Particularly pleasing was the result of our International Cinema business with the German circuit achieving a record profit of AUD$12.1 million up AUD$11.7million on the prior year and our Middle East Circuit similarly recording a record result of AUD$11.1million up AUD$3.4million on the prior year.
With the impact of the global financial crisis having a major impact on the hotel sector, the Group’s result from the Rydges Hotels & Resorts business was particularly noteworthy with earnings down only 10% on the prior year. Mr Seargeant added: “With a major campaign of compelling promotional offers to drive market share and a very effective focus on reducing operating costs we produced, given the conditions a great result from our Hotel Business”.
Thredbo also produced a solid result with growth in earnings of 7.2% over the prior year despite a relatively late start to the 2008 season.
Further information
ASX Company Security Code AHD Telephone: 02 9373 6600 Contact: David Seargeant (AHL Managing Director) Greg Dean (AHL Company Secretary)
Amalgamated Holdings Limited A B N 5 1 0 0 0 0 0 5 1 0 3
49 Market Street, Sydney NSW 2000