Ann: Half Year Results Presentation, page-18

I think you are too bearish on Thredbo, it will continue to be a high end tourist destination but the season may be shorter. Admittedly the past year has been problematic weather wise. Cinemas, they will continue to operate with some profits imo but it’s clear the “good old days” of regular cinema crowds are a thing of the past. I invest via CIN which trades at a 26% discount to NTA at the moment, so I see value there, particularly as EVT dividends grow. CIN only pays out about 70-75% of its earnings, and diversifies with the retained earnings buying blue chip ASX dividend paying stocks.