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


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

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

 
 

SimplySwim

    SimplySwim is a school management solution that helps swimming school owners and managers optimize operations by automating functions such as managing class schedules, billing and…

read more

Aquatics / Education / Recreation / Safety / Technology

 
 

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

 
 

PathMinder

PathMinder Pty Ltd have partnered with AllUser Industries srl to bring Europe’s most advanced high security portals to the Australian and New Zealand markets. AllUser Industries started to…

read more

Access / Fitness / Recreation / Security

 
 

Envibe

With its sleek good looks and easy-to-use yet powerful functionality, Envibe is the premium fitness club software for the Australasian leisure, recreation and fitness industry. We are the most…

read more

Aquatics / Fitness / Recreation / Technology

 
 

AUSTRALIAN WATERSLIDES AND LEISURE

A leading designer and manufacturer of innovative waterslides and attractions, Australian Waterslides and Leisure (AWL) is also able to advise clients in the areas of concept and design, feasibility…

read more

Aquatics / Attractions / Play / Waterparks

 
 

ProSlide Technology

ProSlide is the global leader in water ride design and manufacturing, supplying high-performance water attractions to new and expanding water parks around the world. For over three decades, ProSlide…

read more

Aquatics / Play / Waterparks

 
 

Anti Wave International

Anti Wave International is the original suppliers of top performance swim, aquatic sports, leisure and pool programming equipment. Founded in 1971, Anti Wave International is proud of its…

read more

Aquatics / Play / Sport

 
 
 
 

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