Too Busy in the Village
Negative market reaction to Village Roadshow's strategy presentation on June 7, 2019 has narrowed the stock price's premium to our unchanged AUD 2.50 fair value estimate to 20%. That is a far cry from the recent AUD 3.86 high, buoyed by market's overexuberant recovery expectations.Near term, we expect group fiscal 2019 EBIT to triple year on year to AUD 61 million, as the momentum in theme park earnings rebound accelerates and the reduction in corporate costs continues. However, much of this wa...
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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