Benefits of Diverse Asset Mix Evident in Event Hospitality and Entertainment's Result
Benefits of Event Hospitality and Entertainment's diverse asset mix were evident in its fiscal 2019 first-half result. On the positive side, the cinemas performed better than expected, with Australia EBIT up 10% and NZ up 20%, while Thredbo continued its recent upward earnings trend (EBIT up 7%). On the negative side, hotels struggled amid softer market conditions (EBIT down 3%) and the German cinema unit saw EBIT slump 74% as a result of cyclical and film quality-related issues.These negative ...
EVENT Hospitality and Entertainment Limited, formerly Amalgamated Holdings Limited, is engaged in cinema exhibition operations; ownership, operation and management of hotels and resorts in Australia and Overseas, and property development. The Company's principal activities include cinema exhibition operations in Australia, including technology equipment supply and servicing, and the State Theatre; cinema exhibition operations in New Zealand and Fiji; cinema exhibition operations in Germany; operation of the Thredbo resort, including property development activities, and investment properties and investment in shares in listed and unlisted companies. The Company's segments include Entertainment Australia, Entertainment New Zealand, Entertainment Germany, Hotels and Resorts, Thredbo Alpine Resort, and Property and Other Investments. The Company has operations in Australia, New Zealand, Fiji and Germany.
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