Solarwise NSW / Dolphin Tech were the first and are the largest Dolphin dealer in NSW with a full service facility and full range of spare parts "on the shelf". We also provide on site…read more
Village Roadshow theme parks boost group profits
Village Roadshow's Gold Coast theme parks Sea World and Warners Bros. Movie World and the Wet'n'Wild Gold Coast waterpark helped boost the entertainment giant’s financial performance for the half year to the end of December 2015.
While a cold spring and wet December and January hit Village's Wet'n'Wild Sydney waterpark, its theme park division increased profit to $44.5 million in the first half.
Commenting on the result, Citi Research analyst Sam Teeger explained "Village's theme parks remain well placed to benefit from a resurgence in Gold Coast tourism."
In other operations, Village is predicting a record year for its cinema business while also testing copyright laws in an upcoming action in the Australian Federal Court to have internet service providers block piracy website Solarmovie.
Village Roadshow is expecting its film business to have a record full-year result on the back of a strong line-up including Star Wars: The Force Awakens, Deadpool and Captain America: Civil War.
Overall, Village recorded a net loss of $3.5 million while revenues increased 11.5% in the first half to $523.5 million.
Excluding significant items, Village reported a net profit of $22 million, up 45.1% on the first half of the 2015 financial year. The result was marginally above Citi forecasts of $21.9 million.
The group's cinema business reported earnings before interest, tax, depreciation and amortisation of $37.6 million, up from $26.2 million in the previous corresponding period.
While Village said it expected the full 2016 financial year to be a record in cinema, it did not expect the second half to keep pace with the first six months given the timing of new movie releases.
Teeger further explained “assuming the rate of EBITDA decline in 1H16 continues at the same pace in 2H16, implies a FY16 film distribution EBITDA of $26 million.”
He added “while Village has delivered a strong 1H16 result, we would like to learn more about the strategy surrounding cinema premiumisation, which if executed successfully, has the potential to drive earnings growth regardless of the film slate.”
Village said it did not have the complex technological and social issues that confronted many sectors and was optimistic that bad weather would not plague its Wet'n'Wild Sydney next year.
Images: Wet'n'Wild Gold Coast (top) and the Wild Wild West ride at Warner Bros. Movie World (below).
23rd February 2016 - WARNER BROS. MOVIE WORLD ANNOUNCES NEW DC COMICS ATTRACTION
20th January 2016 - GROWING IMPORTANCE OF MEMBERSHIPS TO GOLD COAST THEME PARK REVENUE
19th January 2016 - FINE WEATHER BOOSTS PERFORMANCE OF GOLD COAST THEME PARKS
25th September 2015 - WET’N’WILD SYDNEY NOW OPEN FOR ITS THIRD SEASON
26th February 2015 - WET WEATHER CONTRIBUTES TO VILLAGE ROADSHOW PROFIT DIP
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.
The Complete Guide to Leisure Industry Products & Services.
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
The Fitness Generation is now part of NovoFit - see www.ausleisure.com.au/suppliers/novofit/read more
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
Established in 1994, Ceramic Solutions has excelled at the supply and installation of swimming pool tiles and equipment for the pool and leisure industry, with a focus on the needs of end-users. …read more
Perfect Gym Solutions is a software as a service (SaaS) solution purpose-built to service the fitness industry, with over 1000 clients servicing over 2 million gym members across 40 countries making…read more
We are the leading providers of kids fun multi-sports programs for Sport and Recreation Centres. Programs cover twelve common sports as well as Gross Motor Skill Development and suit children from as…read more
Tim Batt Water Solutions are at the very forefront of the commercial aquatic business in Australia, with over 30 years specific experience supplying and installing chemical control and dosing…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!