EVT Limited, the parent company of Event Cinemas and the QT hotel chain, has announced a half-year net profit of $31.8 million. This represents a $6.7 million increase, or 21.6 per cent, compared to the prior year. The company operates within the entertainment, hospitality, and leisure sectors, managing a diverse portfolio of assets including cinema chains, hotels, and ski resorts.
Normalised revenue climbed 5.4 per cent to $683.8 million, while normalised EBITDA increased by 5.5 per cent to $105.1 million. EVT attributed this growth to strong performances in its Thredbo ski resort and its Entertainment Germany division. The company also reported a record half-year result for its hotels division, with underlying normalised EBITDA rising by 19.3 per cent.
The board of directors has declared an interim dividend of $29.25 million, which equates to 18¢ per share. This dividend represents a 2¢ increase over the dividend paid in the corresponding period last year.
