Latest News

Back to Latest News back

 

Village Roadshow theme parks boost group profits

Village Roadshow theme parks boost group profits
February 26, 2016

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

23rd March 2015 - VILLAGE ROADSHOW ADVANCES ASIAN THEME PARK PLANS WITH JOINT-VENTURE WITH CITIC

26th February 2015 - WET WEATHER CONTRIBUTES TO VILLAGE ROADSHOW PROFIT DIP


Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

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

 
 

BODY BIKE APAC

BODY BIKE® International is a leading manufacturer of indoor bikes with a 20-year track record of creating the best indoor bikes. Stay connected with Body Bike Australia…

read more

Fitness / Recreation / Sport / Technology / Wellness

 
 

PlayRope

Playrope Aqua-Fun, are the Australian & New Zealand exclusive distributors for Vortex Aquatic Structures International, the world leader in aquatic playgrounds and urban water landscapes.…

read more

Aquatics / Attractions / Parks / Play / Recreation

 
 
 

Fun Wheels Pty Ltd

Fun Wheels Pty Ltd are the premium dealer in Australasia for the Dutch company BERG’s commercial and domestic products. Our flagship product is their revolutionary pedal go-kart – the…

read more

Attractions / Tourism / Venues

 
 

iDwala Pty Ltd

iDwala is the Community Sports Facility Specialist offering the highest quality designs and technical expertise to Councils, Schools and Sporting Clubs looking to create sporting…

read more

Consultants / Design / Recreation / Sport / Surfaces

 
 

DAE Global

DAE Global is one of the world’s leading international creative and production practitioners, creating award-winning sport, culture and entertainment experiences for over 30 years.  It was…

read more

Culture / Entertainment / Events / Venues

 
 

Aussie Strength

Commercial gym equipment supplier Aussie Strength was wound up at the end of 2022.    .aussie p { padding:20px; }

read more

Fitness / 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