AAD ardent leisure group

AAD announced in August EPS on core earnings of 11.41cents for...

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    AAD announced in August EPS on core earnings of 11.41cents for FY 10.
    Revenue and EBITDA up in all divisions in recent ly announced Septemeber quarter update
    Theme Parks: Revenue up 15.6%; Ebitda up 14.7%
    Marina: Revenue up 6.1%: EBITDA up 38%
    Bowling Revenue up 7.8%; BEITDA up 8.5%
    Health Clubs: Revenue up 22.6%; EBITDA up 36%
    Main EVent (US amusements) Revenue up 11.4%; EBITDA up 25%

    Price has fallen about 10% in November. Possible reason might be bad weather affecting earnings in Gold Coast theme parks. However while this would have impacted earnings in October, impact across divisions over the quarter is likely to be minor and current half year will still deliver significant improvement in revenue and profit.
    Checked to see if directors have been selling, but only recent notice is a purchase by Venardes of 18200 shares at $1.095.
    Appears to me to be undervalued, and now sitting at a support level around $1.00 set before the September update.
 
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