FEC and theme park successes boost profits in latest earnings report for Ardent Leisure
by Tom Anstey | 18 Feb 2016
Attendance at Dreamworld and WhiteWater World increased by 13 per cent
Australian operator Ardent Leisure, which owns Dreamworld and WhiteWater World, AMF Bowling centres and a growing US FEC division, has posted net profits of AU$22.6m (US$16m, €14.1m, £11.2m) driven mainly by its US ventures.
Adrent’s Texas-based Main Event division – a chain of 25 FECs – have delivered an average return on investment of 35 per cent since the concept was launched in 2007.
Ardent’s chief executive Deborah Thomas said that with continued success, Main Event was looking for further opportunities “to accelerate the roll-out” of the division, something reinforced by the latest results.
The group’s theme park division, which includes Dreamworld and WhiteWater World, recorded total revenues of AU$58.4m (US$41.5m, €37.3m, £29m) for the half year – up from AU$54.8m (US$38.9m, €35m, £27.3m) for the previous year’s results. Attendance was also up, with a 13 per cent increase, though per capita spending slipped slightly, down from 37.2 per cent to 36.3 per cent.
Dreamworld is expected to face increased competition in the coming years, with Chinese giant Wanda developing its own theme park nearby based around the Jurassic World franchise following its acquisition of Legendary Entertainment.
Overall revenue for Ardent for the half year increased by AU$48m (US$34m, €30.6m, £23.8m) to AU$333.8m (US$237.1m, €213m, £166m). In the first half of the financial period, Ardent launched two new Main Event centres, with another five scheduled to open in the second half of the year.
Ardent Theme Park FEC Deborah Thomas visitor attraction12 Jan 2016
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Australian operator Ardent Leisure, which owns Dreamworld and WhiteWater World, AMF Bowling centres and a growing US FEC division, has posted net profits of AU$22.6m (US$16m, €14.1m, £11.2m) driven mainly by its US ventures. Adrent’s Texas-based Main Event division – a chain of 25 FECs – have delivered an average return on investment of 35 per cent since the concept was launched in 2007. Ardent’s chief executive Deborah Thomas said
TAW,VAT
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