Theme park owner lifts profit

Ardent Leisure Group's half year profit has grown by five per cent, as earnings from its theme parks, gyms, bowling centres and US business grew.

Strong demand for indoor entertainment centres in America has helped bolster theme park and health club operator Ardent Leisure Group's half year profit.

The owner of Gold Coast theme parks Dreamworld and Whitewater World made a profit of $22.5 million in the six months to December 31, up five per cent from $21.4 million in the same period a year earlier.

The result was largely driven by growth in the group's Main Event indoor family entertainment centres in the USA, and its Goodlife health clubs, chief executive Greg Shaw said.

Earnings from Main Event jumped by 32 per cent, and by 19 per cent in the health club division.

Earnings from theme parks, the largest part of its business, rose by five per cent, as the increasing popularity of unlimited annual passes boosted visitor numbers but reduced their average spend.

Mr Shaw said the falling Australian dollar and more competitive domestic airfares would help boost Ardent's Gold Coast theme park business in the second half of the financial year.

Ardent Leisure has 13 Main Event centres in Texas, featuring ten pin bowling, amusement games, conference and party rooms, sports bars and restaurants.

"The big strength in the business model is that it appeals to all ages and has an enormous depth and breathe of clientele," Mr Shaw told AAP.

"We don't have any direct competitors in the USA ... so we have a lot of opportunity to expand across the states."

The company plans to open six more centres, in Texas, Georgia and Oklahoma, by the end of the 2014/15 financial year.

Mr Shaw said the same business model would not work as well in Australia, as what underpins the US business is the location of centres on major freeways near large population catchments.

Ardent Leisure shares gained four cents to $2.11.


2 min read

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Source: AAP


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