Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

EVT LIMITED Earnings Release 2010

Feb 17, 2010

64888_rns_2010-02-17_3e4ce659-a960-48ff-8bcf-9f0694728c68.pdf

Earnings Release

Open in viewer

Opens in your device viewer

==> picture [101 x 59] intentionally omitted <==

18[th] February 2010

ASX ANNOUNCEMENT

The listed entertainment, hospitality and leisure operator Amalgamated Holdings Limited (“AHL”) today announced its half-year result achieving a net profit of $76.2 million. The net profit represents a 50% increase over the record result achieved in the prior comparable half-year period. Profit from continuing operations before individually significant items and income tax expense increased by 35.3%.

In announcing the result the AHL Managing Director, Mr David Seargeant, commented: “The outstanding performance of our Exhibition business, particularly in Germany, was the major driver of a very pleasing result for the first half”. Mr Seargeant added: “Late in the half we experienced the astonishing success of Avatar , which has re-written Box Office history, with our decision to rollout 3D to over 25% of our screens in preparation for the release of Avatar being truly vindicated”.

The profit included individually significant items totalling $11.9 million derived from commercial and residential property development activities. The Group also benefited from a better than expected result from the Hotel business with the beginnings of a recovery in business travel clearly evident. Despite inconsistent natural snow conditions Thredbo contributed a very solid result for the 2009 season.

The AHL Chairman, Mr Alan Rydge, announced an interim dividend of 14 cents per share, a 27% increase on the previous interim dividend. Mr Rydge also announced the activation of the AHL Dividend Reinvestment Plan. Shares allotted under the DRP will be issued at a 2.5% discount to the calculated market price.

The previously announced acquisition of the SKYCITY Cinema business is expected to complete today. The cinema circuit, which is the largest in New Zealand, will add some 124 screens, taking the total number of screens operated by AHL to over 1,300 globally.

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