Buying AHD on the QT

Where else can you find a stock that’s about 10% undervalued offering a 5.4% yield, with some nice potential growth baked in? Jason Prowd (quietly) investigates.

If only I’d known at the time. All that cash ‘invested’ in watching movies and whizzing down mountains at Thredbo could have been carried over as a tax deduction for my future career. This was my first early ‘research’ on Amalgamated Holdings, owner of Greater Union and Event cinemas, Thredbo and Rydges hotels amongst other entertainment assets.

Eleven years ago this business was in as much strife as I was on a black run. So newly appointed managing director David Seargeant gathered the company’s top brass to plot a recovery plan.



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