Ann: F22 Results Investor Presentation, page-2

I sold EDV as better returns from thermal coal companies NHC/WHC and YAL, but this seems a quite solid result.

Net profit rose 11 per cent while the dividend is up 10 per cent, both (marginally?) ahead of CPI.

The underrated hotels business seems to again be doing well. I've never had a poor meal at these ALH hotels. Try it and see if you agree. Drinks are also moderately priced given the cost of labour and other expenses hotels face.

Good to see the median age of EDV's electronic gaming machines reducing. Vital that EDV keeps up with trends in this area. The extra tax in Victoria is unhelpful.

It is difficult to fully compare these results with previous periods due to the 'noise' (trendy business term) around COVID-19, and the huge government overreach, particularly under DD (who's gone all quiet as there's a State election coming up) in Victoria with his thousands of ineffective, rule setting bureaucrats.

My only question would be 'is EDV carrying too much debt?' But I'm not an accountant.