Ardent Leisure releases half-year results

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Submitted by Ashley Irvine on Thursday 18 February 2010 - 11:37pm

Ardent Leisure -- the owners of Dreamworld and WhiteWater World -- has released their half-year financial performance results for the 2009 period.

Revenue for the parks dropped 4.7 per cent to $178.8 million. Core earnings for this period decreased to $23.2 million, representing a fall of 17.9 per cent.

EBRITDA (earnings before interest, taxes, depreciation and amortization or enterprise multiple) fell 5 per cent to $21.5 million.

The parks' joint attendance was 1,056,732, an increase of 2.6 per cent. Local patronage increased 22.4 per cent, while interstate and international numbers dropped 13.4 and 21.1 million respectively. Per capita spending dropped 7.1 per cent to $51.37.

Operating margins dropped slightly, falling to 37.9 per cent.

Dreamworld is set to open a new family attraction in April. One of the park's Big 6 thrill rides will also be refurbished and re-launched in July. Furthermore, WhiteWater World will open a new water thrill ride in April.

Ardent Leisure's current share price is $1.56.

Photo: Dreamworld