New Zealand Experience, operator of the Rainbow's End theme park in Auckland, has reported a drop in first half earnings for 2009 which it says is mainly down to the global economic downturn and a 13 per cent fall in visitor numbers.

For the six months to 30 June, profits totalled NZ$916,000 (£384,866, 328,925 euro, US$626,727), down 12.5 per cent on the same time last year. Revenue fell 6.1 per cent to NZ$8.8m (£3.7m, 4.2m euro, US$6m) and the company has cut the final dividend to 2.25c a share from 2.5c last year.

The group is currently in negotiations to extend its land lease to 2034 and is reported to be developing a so far un-named attraction scheduled to be open in time for the Christmas/New Year holiday period.

Rainbow's End opened in December 1982 and is New Zealand's largest theme park.