Major entertainment, hospitality and leisure operator EVENT Hospitality & Entertainment Limited (“EVT”) today announced a half year result with normalised profit before interest, individually significant items and income tax from continuing operations (“PBIT”) of $87.9 million, an increase of $1.6 million or 1.9% above the prior year result. Normalised profit after income tax from continuing operations was $83.4 million, consistent with the prior half, whilst the statutory net profit after tax including discontinued operations was $67.5 million, an increase of $0.6 million or 0.9%.
In announcing the result, EVT CEO Jane Hastings said: “The half year result included strong PBIT growth from Entertainment Australia +10% and New Zealand +20%, assisted by the second highest first half box office on record in both markets. Another record result from Thredbo, with PBIT up 7%. The Hotels and Resorts result was slightly below the prior year but on a like-for-like basis, the Group’s owned hotels achieved PBIT growth of 1.5% despite less favourable market conditions in Sydney, Perth and Cairns. We were also pleased with the continued growth of our management agreements with four hotels joining the Group during the half year. We have been focused on extending our QT footprint and in addition to QT Auckland, we have signed a management agreement for QT Adelaide in 2021.”
Ms Hastings also
/Public Release.
