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Ocean Park revenue up but deficit remains
POSTED 21 Dec 2018 . BY Luke Cloherty
Hong Kong amusement park Ocean Park has seen an uplift in revenue in the financial year 2017-18 on the previous period but is still operating with a deficit.

The park reported revenue of HK$1.7bn (US$217.6m, €192.4m, £173m) during the year, a 4 per cent uplift on the previous period but its net operating deficit worsened by 2 per cent to HK$262.9m (US$33.6m, €29.8m, £26.7m) and its deficit for the year worsened by 1 per cent to HK$236.5m (US$30.3m, €26.8m, £24.1m).

A reason behind the deficit increase could lie in the company’s operating costs, which rose 4 per cent to HK$1.3bn (US$166.4m, €147.1m, £132.3m).

"During the fiscal year 2017-18, Ocean Park was on track to transform the Park into a world-class resort destination," said Ocean Park chair Leo Kung.

"The revenue growth in 2017-18 reflects the huge efforts we have undertaken to diversify the Park’s revenue streams. In the past year, we have elevated our entertainment and night offerings, broadened education scope by incorporating STEAM concepts and stepped up our efforts to appeal to new market segments.

"The park’s evolution has also seen the adoption of new technologies to enhance the guest experience, and a widened food and beverage portfolio."

The attraction, which incorporates a marine mammal park, oceanarium, animal theme park and amusement park, saw 5.8 million visitors arrive through its doors in the year.

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Jobs . News . Products . Magazine
NEWS
Ocean Park revenue up but deficit remains
POSTED 21 Dec 2018 . BY Luke Cloherty
Hong Kong amusement park Ocean Park has seen an uplift in revenue in the financial year 2017-18 on the previous period but is still operating with a deficit.

The park reported revenue of HK$1.7bn (US$217.6m, €192.4m, £173m) during the year, a 4 per cent uplift on the previous period but its net operating deficit worsened by 2 per cent to HK$262.9m (US$33.6m, €29.8m, £26.7m) and its deficit for the year worsened by 1 per cent to HK$236.5m (US$30.3m, €26.8m, £24.1m).

A reason behind the deficit increase could lie in the company’s operating costs, which rose 4 per cent to HK$1.3bn (US$166.4m, €147.1m, £132.3m).

"During the fiscal year 2017-18, Ocean Park was on track to transform the Park into a world-class resort destination," said Ocean Park chair Leo Kung.

"The revenue growth in 2017-18 reflects the huge efforts we have undertaken to diversify the Park’s revenue streams. In the past year, we have elevated our entertainment and night offerings, broadened education scope by incorporating STEAM concepts and stepped up our efforts to appeal to new market segments.

"The park’s evolution has also seen the adoption of new technologies to enhance the guest experience, and a widened food and beverage portfolio."

The attraction, which incorporates a marine mammal park, oceanarium, animal theme park and amusement park, saw 5.8 million visitors arrive through its doors in the year.

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Red Raion is the CGI studio specialized in media based attraction. Find out more...
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Introducing AnimaChat! – Animalive
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Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

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