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Rainbow’s End celebrates 30 years with record attendances

Rainbow’s End celebrates 30 years with record attendances
August 23, 2012

New Zealand Experience Limited, owner and operator of Rainbow's End Theme Park, has reported the highest level of attendance since acquiring the company 17 years ago.

Following the experience of an extraordinarily wet and windy Auckland summer, Rainbow's End has recovered dramatically, attaining visitation of 307,000 for the year ended 30th June 2012 - a result ahead of forecast.

New Zealand Experience Limited has reported a full year profit of $1,434,000 for the year.

The result recognises one-off expenses associated with new facilities under construction; and excluding these costs, the annual profit would have been $1,626,000, up 12% on a comparable basis to the prior year.

Resulting from this strong performance, the Board of directors has declared a fully imputed dividend of 2.90 cents per share, a yield of 11.2% before tax for shareholders.

Chairman Rodney Walshe reports "the excellent financial results have been achieved in a tough financial year, when many companies experienced declining revenues and is attributed to effective marketing strategies and initiatives, along with assiduously controlled operating expenses.

"This result is a credit to the entire Rainbow's End team and has again enabled a good dividend to be paid to shareholders and a strong programme of capital reinvestment to be maintained."
Rainbow's End's latest major capital project, 'Kidz Kingdom', will cater for children eight years and under, and is progressing on schedule. The attraction will open in two stages, with the first being due to be completed by Christmas, with full completion by Easter 2013.

Walshe adds "Kidz Kingdom will be an all-weather attraction, equally appealing in winter and summer, and will be open 364 days of the year, only excluding Christmas Day!"

The 2,900 metre2 attraction will comprise of an outdoor covered area which will include new rides as well as many of the present attractions, and a fully enclosed area featuring separate birthday rooms, state-of-the-art interactive games, a stage and a modern café.

Plans are also underway for the next major attraction at Rainbow's End, which will cater for a wider age group.

Celebrating 30 years in business, Rainbow's End's on-going investment programme will ensure the Park will continue to be a major attraction for Auckland residents and visitors for many more years to come.

For more information go to www.rainbowsend.co.nz

4th August 2012 - RAINBOW’S END OWNER SEEKING A BUYER


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