Ardent posts H2 earning drop
Ardent Leisure, owner of Dreamworld theme park and Whitewater World waterpark in Queensland, Australia, saw revenue and earnings at its parks fall in the second half of 2009, due primarily to a drop in domestic and foreign visitor numbers.
During the period, the group’s theme parks reported total revenues of A$54.3m (US$48.4m), down 4.7 per cent year-on-year, while net earnings fell five per cent to A$21.5m (US$19.2m).
Commenting on the results, Ardent CEO, Greg Shaw, said: "Lower interstate patronage reflected more cautious spending by domestic visitors to the Gold Coast and aggressive competitor discounting. Global economic conditions also saw a decline in international visitations from traditional growth markets of China and the boarder Asian region."