A Village Wipeout
Shares in Village Roadshow have sunk back towards our unchanged AUD 3.60 fair value estimate as another poor trading update erases much of the 15% stock price rally since September last year. Indeed, our revised forecast of AUD 16 million normalised NPAT for fiscal 2018 will be the lowest in memory, below even the Dreamworld-scarred fiscal 2017.The key culprit remains the theme parks unit, with the summer holiday trading period clearly still suffering from the lingering impact of the October 20...
Village Roadshow is principally engaged in the theme park and water park operations, cinema exhibition operations, film and digital versatile disc distribution operations. In addition, Co. had an equity-accounted 50.17% interest in Village Roadshow Entertainment Group Limited which has film production activities, as of June 30 2016.
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