Ar­dent $88.6m loss

Travel Daily - - News -

DREAMWORLD par­ent Ar­dent Leisure to­day an­nounced a net loss of $88.6m in 2017/18 as its theme parks con­tinue to suf­fer in the wake of the Thun­der River Rapids tragedy of 2016.

The af­ter-tax loss was $26 mil­lion more than last year when the com­pany posted losses of $62.6 mil­lion.

Ar­dent’s rev­enue of $555.1 mil­lion was down by $29.8 mil­lion on the pre­vi­ous year, while earn­ings (EBITDA) were down from $1.2 mil­lion last year to a neg­a­tive re­sult of -$50.4 mil­lion in 2017/18.

The Theme Parks di­vi­sion re­ported a loss of $86.3 mil­lion, which Ar­dent at­trib­uted to a slow re­cov­ery from the fa­tal ac­ci­dent of Oct 2016 and dis­counted ticket prices af­ter the in­ci­dent.

Dreamworld has un­der­gone a man­age­ment re­struc­ture and last month an­nounced write-downs of $86 mil­lion ( TD 31 Jul).

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