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Ardent Leisure full year results strong revenue growth
Ardent Leisure Group's 2015/16 financial report shows strong revenue growth backed by increasing visitation to its Gold Coast attractions and the successful rollout of its US family entertainment centres.
The multi-sector leisure operator says its theme parks and bowling venues in Australia and its US-based family entertainment centres division, Main Event, all recorded revenue growth in the year to 30th June.
Ardent's full-year profit rose 32% to $42 million, thanks to a 16.3% rise in revenue to $665 million.
Its Gold Coast attractions Dreamworld, WhiteWater World and SkyPoint, reported an increase in visitor numbers with revenue rising 8% on the prior year to $107.6 million.
Ardent said new attractions and an increase in domestic and international visitors, in particular Chinese tourists, and strong growth in its food and beverage sales bolstered its theme parks business.
Main Event, the group's North American FEC division which feature bowling, rock climbing and sports bars, had a 22% rise in revenue to $229.4 million ($US174.7 million), driven by the opening of seven new venues.
Ardent said its Australian bowling revenue rose 12% to $130.5 million as it successfully transformed AMF and Kingpin bowling centres into multi-attraction entertainment venues.
With US operations now the group’s major growth driver, Ardent agreed the sale of its Goodlife Health Clubs division at the end of last week while its d'Albora Marinas division has been on the market since March this year.
The group plans to reinvest the proceed from its assets into growing Main Event as well as other international ventures.
Ardent Chief Executive Deborah Thomas said Main Event would continue to be the key driver of future growth with 11 centres planned to open in 2016/17, commenting "there will be a laser-like focus on Main Event."
Thomas also stated that the favourable exchange rate, an increase in international tourists and the Commonwealth Games promotions would fuel growth at its theme parks in Australia.
Images: WhiteWater World (top) and Deborah Thomas (below).
19th August 2016 - ARDENT LEISURE SELLS GOODLIFE HEALTH CLUBS IN $260 MILLION DEAL
31st March 2016 - ARDENT LEISURE LOOKS TO SELL MARINAS DIVISION
18th February 2016 - ARDENT LEISURE RECORDS 20% PROFIT RISE BACKED BY IMPROVED FEC AND THEME PARK VISITS
21st August 2015 - ARDENT LEISURE RECORDS PROFIT DIP BUT LOOKS AT FEC EXPANSION
22nd July 2015 - ARDENT LEISURE PLANS INTERNATIONAL EXPANSION
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