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Ardent's Dreamworld operating at profit one year on from horror accident
POSTED 21 Nov 2017 . BY Tom Anstey
Ardent Leisure, which has struggled since a tragedy at its Dreamworld park claimed four lives last year, says it has stemmed financial losses.

Geoff Richardson – who became acting chief executive at Ardent following Simon Kelly’s sudden resignation in October after just five months in the role – revealed that Dreamworld is, for the first time in 2017, operating above breakeven.

"Despite the challenging year, guest satisfaction and feedback at Dreamworld continue to be excellent, and we look forward to a strong holiday period and hopefully a boost from the 2018 Commonwealth Games to be held on the Gold Coast," said Richardson, speaking at the company’s Annual General Meeting in Sydney.

Following the accident on Dreamworld’s Thunder River Rapids ride in October last year, Ardent’s theme park division has suffered, reporting losses of AU$3.4m (US$2.6m, €2.2m, £1.9m) in the current financial year compared to a AU$34.7m (US$26.3m, €22.4m, £19.9m) profit for the year prior.

"Patronage is still subdued but its performance is starting to come back," said new Ardent chair Garry Weiss, who joined the board in September.

"We're very committed to reinvigorating Dreamworld and to making a material investment back into the park to refresh and reinvigorate the offer."

Last year's accident caused a ripple effect across Australia’s theme parks on the Gold Coast, with Warner Bros Movie World, Sea World and Wet ‘n’ Wild all reporting losses through the year. Ardent will offer detailed trading results for its half-year in February.
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Jobs . News . Products . Magazine
NEWS
Ardent's Dreamworld operating at profit one year on from horror accident
POSTED 21 Nov 2017 . BY Tom Anstey
Ardent Leisure, which has struggled since a tragedy at its Dreamworld park claimed four lives last year, says it has stemmed financial losses.

Geoff Richardson – who became acting chief executive at Ardent following Simon Kelly’s sudden resignation in October after just five months in the role – revealed that Dreamworld is, for the first time in 2017, operating above breakeven.

"Despite the challenging year, guest satisfaction and feedback at Dreamworld continue to be excellent, and we look forward to a strong holiday period and hopefully a boost from the 2018 Commonwealth Games to be held on the Gold Coast," said Richardson, speaking at the company’s Annual General Meeting in Sydney.

Following the accident on Dreamworld’s Thunder River Rapids ride in October last year, Ardent’s theme park division has suffered, reporting losses of AU$3.4m (US$2.6m, €2.2m, £1.9m) in the current financial year compared to a AU$34.7m (US$26.3m, €22.4m, £19.9m) profit for the year prior.

"Patronage is still subdued but its performance is starting to come back," said new Ardent chair Garry Weiss, who joined the board in September.

"We're very committed to reinvigorating Dreamworld and to making a material investment back into the park to refresh and reinvigorate the offer."

Last year's accident caused a ripple effect across Australia’s theme parks on the Gold Coast, with Warner Bros Movie World, Sea World and Wet ‘n’ Wild all reporting losses through the year. Ardent will offer detailed trading results for its half-year in February.
RELATED STORIES
Dreamworld deaths affect Village Roadshow as operator announces AU$66.7m losses


Australian operator Village Roadshow is looking to bounce back after a tough twelve months, which has seen the company record full-year losses of AU$66.7m (US$52.8m, €44.8m, £41.2m).
Industrial manslaughter laws to be introduced following Dreamworld tragedy


Queensland’s state government is set introduce industrial manslaughter laws, with safety around theme park rides to also be tightened, following the deaths of four people at Dreamworld last year.
Ardent revenue plummets in wake of DreamWorld tragedy


Ardent Leisure has seen revenue fall by more than half following a fatal accident at its Dreamworld theme park on Australia’s Gold Coast last year.
Dreamworld to reopen 10 December following October deaths


Australia’s Dreamworld will reopen to the public on 10 December following an accident in October that resulted in the deaths of four people.
MORE NEWS
New attractions drive profits as Universal reports strong Q1
Continued impressive results from Universal's theme park division has fueled strong revenue's for Comcast's first quarter, with theme park revenues increasing by 14.5 per cent.
Three more theme parks for China as Six Flags enjoys record start to 2018
Off the back of a record financial start to the year, Six Flags has announced plans to develop three more theme parks in China as the operator continues to ride the international wave of momentum it has created.
Unesco mobilises academics to promote heritage protection in Africa
Unesco's World Heritage Centre will this week be hosting a heritage workshop as part of its mandate to promote culture and education in Africa.
Cream of tourism crop revealed with VisitEngland's latest Awards for Excellence
VisitEngland has named the best Britain's tourism industry has to offer, announcing the winners its annual Awards for Excellence.
+ More news   
LATEST JOBS
Guest Experience Manager
SnowDome
Salary: Circa £30,000
Job location: Tamworth, UK
Games & Wristbands Manager
West Midland Safari and Leisure Park
Salary: £22,000 - £25,000
Job location: Worcs, UK
Senior Bowling Technician
NAMCO UK Ltd
Salary: Competitive Salary & Benefits
Job location: Manchester, UK
Food and Beverage Manager
NAMCO UK Ltd
Salary: Circa £23,000
Job location: Manchester, UK
Performance Assistant Team Leader
Hamburg Dungeon
Salary: Competitive Salary & Benefits
Job location: Hamburg, Germany
Retail, Admissions & Membership Manager
The Wildfowl and Wetlands Trust
Salary: £33,065
Job location: London, UK
+ More jobs  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
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