Event Hospitality and Entertainment Enters New Dawn With Property on Its Mind
We retain our AUD 12 fair value estimate per share for no-moat-rated Event Hospitality and Entertainment as it enters a new dawn. On Aug. 24, new CEO Jane Hastings will present the group's fiscal 2017 result--a task that has been performed with aplomb by her predecessor David Seargeant for the past 15 years.We forecast Event to deliver a 7.4% fall in fiscal 2017 normalised net profit after tax, or NPAT, to AUD 113.3 million, the first decline in six years due to the 20.5% NPAT slump in the firs...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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