EVT LIMITED — Interim / Quarterly Report 2007

Mar 18, 2008

RESULTS 2003 2004 2005 2006 2007 ($ million unless indicated) Revenue from sales of goods or rendering of services# 184.8 311.4 289.1 300.7 313.9 Other revenue and income 13.8 19.0 24.7 30.3 25.2 Revenue, gain and other income from discontinued operations - 11.3 4.9 2.6 64.4 198.6 341.7 318.7 333.6 403.5 Share of revenues derived from unit trusts andpartnerships 98.7 94.6 80.1 79.5 86.0 Total revenues 297.3 436.3 398.8 413.1 489.5 Profit from continuing operations before individually significant items and income tax 36.6 51.8 47.4 43.3 50.1 Discontinued operations - (1.4) (1.1) 11.2 66.5 Individuallysignificant items (11.0) 2.8 2.5 3.9 2.3 (11.0) 1.4 1.4 15.1 68.8 Profit before income tax 25.6 53.2 48.8 58.4 118.9 Income tax expense from continuing operations (8.3) (10.0) (9.1) (8.5) (14.4) Income tax (expense)/benefit from discontinued operations - 0.4 0.3 (0.2) (26.4) Profit after income tax 17.3 43.6 40.0 49.7 78.1 Basic earnings per share (cents) 13.9 34.7 31.9 39.0 60.9 Basic earnings per share from continuing operations (cents) 13.9 35.5 32.5 30.4 29.7 PREVIOUS AGAAP AIFRS HALF-YEAR ENDED 31 DECEMBER*		HIGHLIGHTS	03 04 05 06 $184.8M $311.4M $289.1M $300.7M $740.8M $772.6M $753.0M $819.9M Revenue from Sale of Goods or Rendering of Services	07 $313.9M $752.8M	03 04 05 06 $36.6M $51.8M $47.4M $43.3M 6 cents 7 cents 8 cents 10 cents Normalised Result	03 04 05 06 $36.6M $51.8M $47.4M $43.3M 6 cents 7 cents 8 cents 10 cents Normalised Result	07 $50.1M 11 cents	LOCATIONS Entertainment www.greaterunion.com.au www.birch.com.au GREATER UNION ACT Manuka, Canberra NSW Bondi Junction, Sydney Burwood, Sydney Campbelltown, Sydney MEGAPLEX Castle Hill, Sydney Glendale, Newcastle Hornsby, Sydney Hurstville, Sydney Liverpool, Sydney MEGAPLEX Macquarie, Sydney Miranda, Sydney Mosman, Sydney Parramatta, Sydney Newcastle Shellharbour George Street Cinemas, Sydney Tuggerah, Central Coast Wollongong Blacktown Drive-In, Sydney QLD Brisbane City Regent Centre, Brisbane Brisbane City Myer Centre, Brisbane SA Adelaide City MEGAPLEX Marion, Adelaide Arndale, Adelaide VIC Melbourne City WA MEGAPLEX Innaloo, Perth Morley, Perth BIRCH CARROLL & COYLE MEGAPLEX Indooroopilly, Brisbane Ipswich City Mackay City Mt Pleasant, Mackay Maroochydore, Sunshine Coast Morayfield, Brisbane Pacific Fair, Gold Coast Robina, Gold Coast North Rockhampton Strathpine, Brisbane The Strand, Toowoomba Townsville City CINESTAR Germany United Arab Emirates The Netherlands www.cinestarcinemas.com www.cinestar.de STATE THEATRE Sydney, NSW www.statetheatre.com.au Entertainment Technology ATLAB Sydney, NSW Melbourne, VIC Gold Coast, QLD Auckland, NZ www.atlab.com.au ATLAB IMAGE & SOUND TECHNOLOGY Sydney, NSW Melbourne, VIC Adelaide, SA Brisbane, QLD Perth, WA Auckland, NZ FILMLAB Sydney, NSW www.filmlab.com.au Hospitality & Leisure	LOCATIONS Entertainment www.greaterunion.com.au www.birch.com.au GREATER UNION ACT Manuka, Canberra NSW Bondi Junction, Sydney Burwood, Sydney Campbelltown, Sydney MEGAPLEX Castle Hill, Sydney Glendale, Newcastle Hornsby, Sydney Hurstville, Sydney Liverpool, Sydney MEGAPLEX Macquarie, Sydney Miranda, Sydney Mosman, Sydney Parramatta, Sydney Newcastle Shellharbour George Street Cinemas, Sydney Tuggerah, Central Coast Wollongong Blacktown Drive-In, Sydney QLD Brisbane City Regent Centre, Brisbane Brisbane City Myer Centre, Brisbane SA Adelaide City MEGAPLEX Marion, Adelaide Arndale, Adelaide VIC Melbourne City WA MEGAPLEX Innaloo, Perth Morley, Perth BIRCH CARROLL & COYLE MEGAPLEX Indooroopilly, Brisbane Ipswich City Mackay City Mt Pleasant, Mackay Maroochydore, Sunshine Coast Morayfield, Brisbane Pacific Fair, Gold Coast Robina, Gold Coast North Rockhampton Strathpine, Brisbane The Strand, Toowoomba Townsville City CINESTAR Germany United Arab Emirates The Netherlands www.cinestarcinemas.com www.cinestar.de STATE THEATRE Sydney, NSW www.statetheatre.com.au Entertainment Technology ATLAB Sydney, NSW Melbourne, VIC Gold Coast, QLD Auckland, NZ www.atlab.com.au ATLAB IMAGE & SOUND TECHNOLOGY Sydney, NSW Melbourne, VIC Adelaide, SA Brisbane, QLD Perth, WA Auckland, NZ FILMLAB Sydney, NSW www.filmlab.com.au Hospitality & Leisure	Rydges Hobart Rydges Melbourne Rydges on Swanston, Melbourne Rydges North Melbourne Rydges on Bell, Preston, Melbourne Castaways Resort on Mission Beach Rydges Perth Rydges Sabaya Resort, Port Douglas Rydges Bankstown, Sydney Rydges Campbelltown, Sydney Rydges Camperdown, Sydney Rydges Cronulla, Sydney Rydges North Sydney Rydges Parramatta, Sydney Rydges World Square, Sydney Rydges Southbank, Townsville Thredbo Alpine Hotel and Apartments Rydges Port Macquarie Rydges Wollongong Rydges Capricorn Resort, Yeppoon Capitol Square Hotel, Sydney NEW ZEALAND Rydges Auckland Rydges Christchurch Rydges Lakeland Resort, Queenstown Rydges Rotorua UNITED ARAB EMIRATES Rydges Plaza Dubai QATAR Rydges Plaza Doha UNITED KINGDOM Rydges Kensington Plaza, London THREDBO ALPINE RESORT Thredbo, NSW www.thredbo.com.au FEATHERDALE WILDLIFE PARK Doonside, NSW
Interim dividend per								NSW		www.featherdale.com.au
ordinary share (cents) 6.0 7.0 8.0 10.0 11.0 Total tangible assets 740.8 772.6 753.0 819.9 752.8 Interest bearing liabilities and borrowings net of cash 246.6 177.0 145.1 166.2 20.4 * To more fairly reflect the operations of the Group, revenue disclosed includes the Group's share of the sales revenue earned by partnerships and unit trusts. # Revenue was impacted by the inclusion of the consolidated results of Greater Union Filmpalast GmbH (formerly Kieft & Kieft Filmtheatre GmbH) from 2 December 2003 and Neue Filmpalast GmbH & Co. KG from 1 September 2004.			03 04 05 06 Total Tangible Assets	07	03 04 05 06 07 Dividend per Ordinary Share			Coffs Harbour Lismore NT Casuarina Darwin City QLD Australia Fair, Gold Coast Browns Plains, Brisbane Cairns Central Cairns City Capalaba, Brisbane Carindale, Brisbane MEGAPLEX Chermside, Brisbane Coolangatta, Gold Coast Earlville, Cairns MEGAPLEX Garden City, Brisbane Grand Central, Toowoomba	RYDGES HOTELS & RESORTS Rydges Central Reservations Phone +61 2 9261 4929 or Toll Free 1300 857 922 www.rydges.com AUSTRALIA Rydges South Park, Adelaide Rydges Southbank, Brisbane Rydges Tradewinds, Cairns Rydges Esplanade Resort, Cairns Rydges Plaza, Cairns Rydges Oasis Resort, Caloundra Rydges Capital Hill, Canberra Rydges Lakeside, Canberra Rydges Eagle Hawk Resort, Canberra Rydges Gladstone	AHL Corporate 49 Market Street Sydney NSW 2000 Phone (02) 9373 6600 www.ahl.com.au

Entertainment MEGAPLEX Indooroopilly,Brisbane Rydges HobartRydges Melbourne Ipswich City Rydges on Swanston, www.greaterunion.com.au Mackay City Melbourne www.birch.com.au Mt Pleasant, Mackay Rydges North Melbourne Maroochydore, Sunshine Coast Rydges on Bell, Preston, GREATER UNION Morayfield, Brisbane Melbourne Pacific Fair, Gold Coast Castaways Resort on ACT Robina, Gold Coast Mission Beach North Rockhampton Rydges Perth Manuka, Canberra Strathpine, Brisbane Rydges Sabaya Resort, NSW The Strand, Toowoomba Port Douglas Townsville City Rydges Bankstown, Sydney Bondi Junction, Sydney Rydges Campbelltown, Sydney Burwood, Sydney CINESTAR Rydges Camperdown, Sydney Campbelltown, Sydney Germany Rydges Cronulla, Sydney MEGAPLEX Castle Hill, SydneyGlendale, Newcastle United Arab EmiratesThe Netherlands Rydges North SydneyRydges Parramatta, Sydney Hornsby, Sydney www.cinestarcinemas.com Rydges World Square, Sydney Hurstville, Sydney www.cinestar.de Rydges Southbank, Townsville Liverpool, Sydney Thredbo Alpine Hotel MEGAPLEX Macquarie, and Apartments Sydney STATE THEATRE Rydges Port Macquarie Miranda, Sydney Sydney, NSW Rydges Wollongong Mosman, Sydney www.statetheatre.com.au Rydges Capricorn Resort, Parramatta, Sydney Newcastle Yeppoon Shellharbour Entertainment Capitol Square Hotel, Sydney George Street Cinemas, NEW ZEALAND Sydney Technology Rydges Auckland Tuggerah, Central CoastWollongong ATLAB Rydges ChristchurchRydges Lakeland Resort, Blacktown Drive-In, Sydney Sydney, NSW Queenstown Melbourne, VIC QLD Gold Coast, QLD Rydges Rotorua Brisbane City Regent Centre, Auckland, NZ UNITED ARAB Brisbane www.atlab.com.au EMIRATES Brisbane City Myer Centre, Brisbane Rydges Plaza Dubai ATLAB IMAGE & SOUND SA TECHNOLOGY QATAR Adelaide City Sydney, NSW Rydges Plaza Doha MEGAPLEX Marion, Adelaide Melbourne, VIC UNITED KINGDOM Arndale, Adelaide VIC Adelaide, SABrisbane, QLDPerth, WA Rydges Kensington Plaza,London Melbourne City Auckland, NZ THREDBO ALPINE WA FILMLAB RESORT MEGAPLEX Innaloo, PerthMorley, Perth Sydney, NSW www.filmlab.com.au Thredbo, NSW www.thredbo.com.au

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AMALGAMATED HOLDINGS LIMITED Amalgamated Holdings LimitedABN 51 000 005 103ABN 51 000 005 103

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The half-year profit before income tax and minority interest of $118,912,000 represents an increase of $60,585,000 or 103.9% on the prior comparable half-year period. This profit includes a gain on the sale of the Group’s equity accounted interest in Roadshow Distributors Pty Limited (“Roadshow Distributors”) of $64,381,000 ($37,977,000 net of income tax). The gain was announced to the market in August 2007 and has been recorded as an individually significant item.

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Atlab Image and Sound Technology group improved revenues from installation projects however the result was negatively impacted by reduced margins within this highly competitive market. Filmlab produced a satisfactory result which included new processor orders from Asian and European laboratories.

Rate growth is being supported by the strong corporate demand in most locations and the increased utilisation of dynamic rate pricing. Dynamic rates now account for 40% of the rates sold in the Group’s Australian hotels with 27% within New Zealand, due to the continued reliance within New Zealand on the wholesale business.

Thredbo continues to increase its share of the national market increasing by 3.2 percentage share points for the 2007 season.

Whilst Domestic Exhibition earnings showed a decline to the prior year, the prior year result was favourably impacted by several property asset sales and a write back in prior period provisions.

With the completion of the head lease negotiation and securing of a further term of fifty years, future development has shifted to the adoption and staged implementation of a 20-year master plan for the Resort.

A major refurbishment of the George Street cinema complex commenced early in the half year with two G-Max auditoria completed and opened in October 2007, and four Gold Class auditoria completed and opened in December 2007. Works to the foyer and an exciting new food and Cinema Exhibition – Domestic beverage precinct will be completed At the Box Office level, Domestic for the relaunch of the site in late Exhibition enjoyed a strong half-year March 2008. achieving 5.7% growth on the prior comparable half-year period. During the six month period the

The normalised result of $50,150,000, derived after excluding individually significant items, discontinued operations, minority interest and income tax represents an increase of 16.0% on the prior comparable half-year period. The Group benefited from increased contributions from both the Hotel and Thredbo segments and a decrease in the interest expense due to the significant reduction in Group debt on receipt of the proceeds from the disposal of the Group’s equity accounted interest in Roadshow Distributors.

Strategic Investments

Upgrade work continues in many hotels, with the second half-year focus being the further rollout of the new "rise" breakfast concept and the installation of LCD flat screen televisions into all owned hotels.

The Group's 50% interest in Roadshow Distributors was sold on 15 August 2007 for consideration of $129,440,000, comprising cash proceeds of $95,000,000 and extinguishment of loans totalling $34,440,000. The profit on the sale before income tax was $64,381,000.

Leisure/attractions

Wet and unsettled weather conditions affected Featherdale’s results compared to the prior comparable half-year period. Domestic admissions remained flat and there was an overall decline in Asian inbound visitors.

The Group’s interest in The Netherlands represents a 33.3% interest in a 10-screen multiplex at Enschede. The site traded strongly for the period with Box Office growth of some 6.5% over the prior comparable half-year period.

Revenues generated by www.rydges.com grew by 61% with the average rate from this channel up 13.8%. This growth has been assisted by the launch of the Rydges Priority Guest program where membership levels exceeded 70,000 during the first six months of operation.

comparable half-year period. During the six month period the Group closed two sites, the three-screen The half-year result was driven by cinema at Canberra Civic and the strong performances from Harry Potter two-screen drive-in located at Bass Hill. and the Order of the Phoenix in July, The Canberra site has received The Simpsons Movie in August, and Development Approval for a 7-level pleasing results from Transformers, commercial development and will be The Bourne Ultimatum, Hairspray retained by the Group as an investment and Death at a Funeral . property with Bass Hill awaiting a Development Approval for a residential Merchandising revenue continued sub-division. to grow with a 10.4% improvement in revenue per admission. This growth Cinema Exhibition – was driven by a number of successful International Candy Bar Combo promotions and the ongoing success of the The Middle East cinema business Gold Class concept. continued to show growth and traded very strongly during the half-year. Customer convenience drove further Total revenue was up by 18% on the growth in the sale of tickets on-line prior comparable half-year period. with an increase of 32% over the The growth in revenue was chiefly driven prior comparable period. In December by the ongoing success of the 14the Group expanded its retail sale screen complex at Mall of the Emirates, channels for gift cards to include which delivered a 22.3% growth in Australia Post, 7-Eleven, Franklins admissions over the prior comparable and IGA stores. As a result of this half-year period. increased retail exposure pre-purchased ticket sales grew by 23%.

The State Theatre experienced slightly improved trading conditions compared to the prior comparable half-year period.

After a relatively good start to the financial year the Box Office for the Group’s German cinema circuit finished 5.6% down overall on the prior comparable half-year period. The fall in Box Office revenue resulted from a lack of strong films released in the later months of the half-year. Harry Potter and the Order of the Phoenix and Ratatouille were the top performing films.

Other

Rental income from the Group's property portfolio was in line with the prior comparable half-year period. Included in the result for this segment is a fair value adjustment totalling $800,000 compared to the prior comparable half of $1,617,000 relating to the revaluation of investment properties. This reflected the continued strength in the Brisbane central business district commercial property market.

Entertainment Technology

Revenues from hotel management fees improved by 23% over the prior comparable half-year period. This increase was due to the strong trading in most managed hotels and additional revenue from new management agreements.

The 50% owned Atlab group experienced a decline in results over the prior comparable half-year period due to competitive pressures forcing reduced margins on feature film and trailer release printing and a continued low level of demand in local markets for negative processing and postproduction services.

Individually significant items include the gain on the disposal of Roadshow Distributors of $64,381,000 and a provision write-back totalling $2,266,000 relating to a more favourable negotiated outcome for the closure of a cinema site in Germany. The individually significant items of the prior comparable half-year period included a profit of $3,259,000 on the sale of shares in a listed company and $2,287,000 of dividends from a listed company partially offset by the establishment of a provision against a legal claim totalling $1,650,000.

Hotels & Resorts

The normalised result was up by 24.8% on the prior comparable half-year period. Hotel occupancy for the half-year totalled 75.3% and exceeded the prior comparable half-year period by two percentage points. The increase in hotel occupancy is mostly attributable to the improved results from the New Zealand hotels, particularly during the first quarter. The improved occupancy, combined with a rate growth of 7.4%, resulted in a 10.4% increase in revpar (revenue per available room) over the prior comparable half-year period.

Thredbo

Thredbo experienced excellent natural snow conditions over the early part of the season. These conditions, supplemented by snowmaking, largely offset the potential impact of poorer conditions later in the season.

During the period Atlab completed construction of a new telecine facility within its Sydney laboratory. This facility, which will operate under the market leading Efilm brand, is expected to access new revenue DC Seargeant streams for the group. AHL Managing Director

Thredbo achieved almost 400,000 skier days, the fourth highest on record. This had a strong flow-on effect on ski lessons, ski hire, retail and Thredboland.

DIVIDEND

Directors have declared a fully franked dividend of 11 cents per share.

With snowmaking again proving extremely valuable, particularly toward the season end, a decision has been taken to further extend the area covered by snowmaking. Stage 1 will be completed for the 2008 season and includes a further thirty guns covering the World Cup Supertrail.

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