The portfolio effect of its operations furnishes Village Roadshow with some earnings resilience.
We have cut our fair value estimate for no-moat Village Roadshow by 8% to AUD 6.00 per share, reflecting downgrades to our near-term forecasts. Collateral effects from the recent Dreamworld incident has diminished fiscal 2017 earnings growth hopes for theme parks, while another likely poor half from film distribution has dimmed the division's recovery prospects.Management appears to be testing the market's patience, not only with these near-term hiccups, but also with the plethora of capital-sa...
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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