EVT reports full year profit of $50.7M
- EVT reported a normalised revenue of $1.31 billion and reported net profit after tax of $50.7 million for the full year ended June 30.
- Following the announcement, the share price rose following the company's disclosure of a final dividend of 23 cents per share and plans for asset divestments.
- Management stated that the company plans to divest approximately $800 million of non-core property assets to support hotel growth and capital returns.
EVT (ASX:EVT) posted a reported net profit after tax of $50.7 million for the year ended June 30, alongside a normalised revenue increase to $1.31 billion.
Normalised EBITDA rose to $174.4 million, while normalised net profit after tax grew to $54.3 million.
"Hotels remain our primary future growth platform, and momentum continues across our two growth pillars, EVT Hotels & Resorts and Connect Hospitality," said EVT Chief Executive Officer Jane Hastings.
The firm identified approximately $800 million of non-core property assets for potential divestment over a three-year window, subject to market conditions.
Following the announcement, the EVT share price was up at $15.32.
Overall FY27 EBITDA growth is expected, with growth in hotels and entertainment, subject to film performance, weather conditions and broader market conditions.
The group operates diverse business segments, including cinema entertainment, ventures, and travel services across multiple international markets.
