With industry leading solutions in design and durability you can improve your facilities with our access control operations, payment systems and flexible personal locker storage solutions. Your…read more
Wet weather contributes to Village Roadshow profit dip
Village Roadshow has warned that profits may dip as much as $10 million this year after "shocking wet weather" affected its theme and water parks' operations during their peak season in December and January.
Saying it had "erred on the side of the over-informing the market" the group, which has interests in cinema, theme parks, film production and distribution yesterday (25th February) reported that interim net profits had fallen from $18.1 million to $13.3 million.
Chief Executive Graham Burke blamed the performance on the "wettest summer for 50 years in Sydney and for 60 years in Queensland" as well as several underperforming theatrical releases at its film distribution business.
Burke estimated that Village's attributable net profit, before material items and discontinued operations for the full year will be in the range of $46 million to $52 million, down from a full-year result of $56.5 million.
Burke told The Australian Financial Review and Business Day "our guidance is what it is because we want to err on the side of overinforming the market. This is worst case scenario.
"However, we will be fighting like tigers to offset the rotten weather with a number of initiatives between now and June 30."
Burke added that on some days the company had to close its Wet'n'Wild water parks in Queensland and NSW due to "pelting rain".
The company is now planning a series of cost cutting measure and promotions activity in an effort to boost profits, which were down at each of its three main divisions, theme parks, cinema distribution and film distribution.
Image shows Sea World's Jet Rescue ride.
7th January 2015 - ANIMAL RIGHTS CAMPAIGNERS TARGET SEA WORLD DOLPHINS
8th Noivember 2014 - MAGIC MEMORIES SHOWS TECHNOLOGICAL EDGE AT WET’N'WILD SYDNEY
27th August 2014 - NEW GENERAL MANAGER TO STEER WET’N’WILD SYDNEY’S SECOND SEASON
7th November 2013 - VILLAGE ROADSHOW LOOKS TO RMIT TO DEVELOP INTERACTIVE THEME PARK TECHNOLOGY
23rd August 2013 - VILLAGE ROADSHOW REPORTS 50% RISE IN FULL YEAR PROFITS
6th February 2013 - VILLAGE THEME PARKS OFFERS FURTHER ENTRY DISCOUNTS FOR LOCAL MARKET
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.
iEDM integrate Design, Engineering and Delivery Management services to convert existing spaces into exciting new entertainment venues. Our team consists of highly qualified professionals with diverse…read more
At easyemployer we've come up with a software solution that manages one of your most important, and often most costly, business resources - your staff. We are helping 100s of clients to…read more
Smart Connection Consultancy is a boutique sport and recreation consultancy who has become one of Australia’s leading advocates for the use of synthetic sports surfaces as a vehicle to grow…read more
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
Quayclean are a national cleaning and waste services partner with proven results in the understanding and delivery of cleaning needs and challenges faced by facilities including; major venues and…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
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!