Event offsets cyclical revenue streams with diversity and conservative management.
No-moat-rated Event Hospitality and Entertainment delivered another good set of results, with EBIT growing 17% to AUD 186 million, which was in line with our forecast of AUD 188 million. Like previous results, Australian Cinema and Hotels continued to be the growth engines, delivering particularly impressive results.Within Australian Cinema (44% of group EBIT before corporate costs), we were looking for three elements: increased attendance, increased spend per attendee, and higher average tic...
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