Latest News

Back to Latest News back

 

Aquariums sink Living and Leisure results

Aquariums sink Living and Leisure results
August 30, 2010

The Living and Leisure Australia Group (LLA) has recorded its second consecutive annual loss, falling $2.76 million into the red.

The Group operates the Mt Hotham and Falls Creek Ski Resorts through Australian Alpine Enterprises (AAE) and the Melbourne Aquarium; Underwater World on the Sunshine Coast; Siam Ocean World in Bangkok, Thailand; Busan Aquarium in Korea and Shanghai Chang Fend Ocean World in China through the Oceanis Group along with the Otway Fly and Illawarra Fly Tree Top Walks.

Chief Executive John Schryver explained "all operating segments have faced challenging circumstances over the period."

Prolonged closure of Siam Ocean World, due to political instability in Bangkok, and a fall in visitor numbers at its Shanghai aquarium were partly to blame for the aquarium division's earnings before interest, tax, depreciation and amortisation falling by $3.9 million to $15.3 million.

LLA's treetop walks business reported a $474,000 fall in EBITDA to $2 million.

However, LLA's skifields business raised EBITDA by 11% to $48 million, as it maintained skier days and grew yield by 4.5%.

Schryver added that with property development not being a key focus of the business, LLA planned to sell all non-core property holdings at Falls Creek, Mount Hotham and Dinner Plain in an orderly fashion, depending on market demand. The sale would be used to reduce debt.

Overall, LLA's revenue for the 12 months to 30th June fell 5% to $117.5 million and it reported no distributions. EBITDA fell slightly in 2010 to $24.6 million.

In the previous financial year, the group posted a $15.4 million loss.

LLA is a former offshoot of the collapsed Queensland property business MFS and is 49% owned by Arctic Capital, which itself is part-owned by Consolidated Press Holdings - owners of the Perisher ski resort.

23rd May 2008 - LIVING AND LEISURE AUSTRALIA TO RECAPITALISE

12th February 2008 - DOWNHILL FOR MFS ASSETS


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

TECHNOGYM AUSTRALIA

Technogym is the leading company in the Wellness and Fitness field all over the world. With 2,200 employees, 14 branches in Europe, U.S., South America, Asia  and Australia, Technogym exports its…

read more

Fitness / Technology / Wellness

 
 

Worldwide Sports Management

Principal Consultant Simon Weatherill has spent the last 20 years developing the world renowned Melbourne Sports Hub, as former Chief Executive Officer of the State Sports Centres Trust…

read more

Aquatics / Consultants / Recreation / Sport / Venues

 
 

SYNERGY FITNESS

The Calgym/Synergy group has had a long and proud history since 1976 as world leaders in the innovation, design and evolution of commercial strength and conditioning equipment. The Synergy group was…

read more

Fitness / Technology / Wellness

 
 

HIDROPLAY

Hidroplay welcomes you to the exciting world of children's Playscapes, waterslide's and Water Attractions. Appealing to families, Hidroplay increases patronage in your facility during those…

read more

Aquatics / Play / Recreation

 
 

TRISLEYS HYDRAULIC SERVICES

Trisley's Hydraulic Services P/L (THS) are a specialised pool company dealing with all aspects of the commercial swimming pool industry, including the installation and servicing from the smallest…

read more

Aquatics / Design / Play / Waterparks

 
 

GLADSTONE MRM

Gladstone Health & Leisure (Gladstone MRM Pty Ltd Australia) is a leading supplier of leisure management and fitness software and is endorsed by leading health and fitness professionals and…

read more

Access / Billing / Fitness / Technology / Venues

 
 

GOPLAY COMMERCIAL PLAYGROUNDS

Goplay designs and manufactures specialised playground equipment for indoor play centres, hotels, food chains, clubs and resorts. If our years of experience and dedication have taught us one thing,…

read more

Play

 
 

NOVOFIT

NovoFit is an exciting and dynamic new company born from two of Australia’s leading commercial fitness equipment suppliers. NovoFit combines over 45 years of industry expertise, delivering state…

read more

Fitness / Recreation / Sport / Technology / Wellness

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business