Australia's EVT FY23 results reflect strong global travel demand - Citi

EVT

05/11/2023 19:26

** Citi says EVT Ltd's  EVT.AX  fiscal 2023 results suggest
global travel demand remains robust and is consistent with the
company's forecast of another record year for its hotel division
    ** Leisure and entertainment firm posted FY23 profit
attributable of A$106.5 mln ($69.32 mln) vs A$53.3 mln in FY22
    ** Forecasts FY24 EBIT of A$63 million for co's hotels
division, 6% below Visible Alpha consensus estimates 
    ** Brokerage reiterates A$11.60 PT and "neutral" rating for
company based on concerns about its continuing earnings misses
recently
    ** 3 of 5 analysts rate the stock "buy" or higher and 2
"hold"; their median PT is A$14.00 – LSEG data
    ** Stock down 14.8% this year, as of last close
($1 = 1.5363 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru; Editing by Hugh
Lawson)
 ((Poonam.Behura@thomsonreuters.com;))