Jun 18, 2002 (The Advertiser
ABIX via COMTEX) -- A major tourism resort in Australia's Whitsunday islands, the Hamilton Island resort, may be sold. Hamilton Island Limited has appointed JP Morgan Australia to search out options for the future of the company. One proposal is for the sale and a return of profits to shareholders. The resort has had a troubled financial history. The review has been welcomed by BT Funds Management, which owns 63.53 per cent of the company. On 18 June 2002, the stock rose to $A2.12. This gives the company a market capitalisation of some $A95 million. The resort was recently harmed by global turbulence and the collapse of airline Ansett. The company believes that the current year's profit will be between $A7 million and $A8 million.
Publication Date: 19 June 2002
HAMILTON ISLAND LIMITED - ASX HAM: JP MORGAN AUSTRALIA HOLDINGS LIMITED: BT FUNDS MANAGEMENT LIMITED: PRINCIPAL FINANCIAL GROUP
INCORPORATED:
ANSETT AUSTRALIA HOLDINGS LIMITED
By Matthew Hart
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INDUSTRY KEYWORD: Services to Transport Property Services Sport and Recreation SUBJECT CODE: RESORTS - QUEENSLAND REAL ESTATE - QUEENSLAND - RESORT TOURISM - QUEENSLAND
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