Business Description:
Amalgamated Holdings Limited (AHD) is a provider of entertainment, hospitality and tourism and leisure services. Its three main operating divisions are Entertainment, Hospitality and Leisure and Entertainment Technology.

Strategy Analysis:
The cinema strategy is to bring back the appeal of going out and watching a movie. Developments overseas are closely tracked to see how other operators are attracting customers away from home entertainment. Gold Glass and 3D both offer fresh appeals to cinema goers. The move to online services for bookings aims to drive the cost of service down. A continuous revitalisation program aims to redirect capital back into its hotels to remain modern, competitive and appealing. This re-investment means it has developed a brand presence for quality and service which it can then leverage through bolt on acquisitions. Amalgamated Holdings reported NPAT up 41.6% to $139.83m for the year ended 30 June 2011. Revenues from ordinary activities were $784.95m, down 3.4% from last year. Diluted EPS was 87.7 cents compared to 66.4 cents last year. Net operating cash flow was $139.73m compared to $136.59m last year. The final dividend declared was 23 cents, taking the full year dividend to 37 cents in line with 37 cents last year.