Ardent’s rebound curtailed

DREAMWORLD owner Ardent Leisure says the theme park is unlikely to break even for the second half of the financial year despite a strong Christmas trading period.

The Sydney-based company, which released its results yesterday for the six months to December 31, said prolonged wet weather, coronavirus and the potential impact on attendance from the upcoming coroner’s report into the 2016 Dreamworld tragedy was behind its forecast for a poor second half.

However, the company, led by chairman Gary Weiss, sounded an upbeat note on the future of the theme park industry. “Planning is well advanced on projects such as the new multi-launch roller coaster, ticketing and digital marketing system, the refurbishment of the ABC Kids and Wiggles precincts (including a new ride), Future Lab, the site Master

Plan and the development of a pipeline of new rides and attractions for installation over the next three to five years,” Ardent said in a statement.

Overall the themeparks division, which on the Gold Coast also includes WhiteWater World and SkyPoint, reported revenue of $38.7 million for the first half – 4.9 per cent higher than the same period the previous year.

“The increase in revenue was driven by a 2.9 per cent uplift in attendance on a like-forlike 26 weeks basis as well as an increase in average per-capita spend.”

Ardent said the “positive trends” from the first half indicate that its turnaround plan is delivering results.

Overall Ardent Leisure, which also owns the Main Event entertainment centre business in the US, reported a net loss of $22.5 million, up from $21.8 million in 1H19.

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