Water is essential for Village Roadshow's Wet `n' Wild and Sea World theme parks but Australia's wettest January in 50 years washed away four per cent of the company's profits.
Tropical storms including Cyclone Marcia lashed the company's theme parks during peak attendance periods across summer and Easter.
Earnings from Village Roadshow's breadwinning theme park division fell four per cent to $92.5 million.
Co-chief executive officer Graham Burke described the year as "shockingly abhorrent."
"There was torrential rain on so many of the key holiday days. Where we would have expected 15,000-20,00 people we got 1,500," he said.
Mr Burke said the rain cost the company between five and seven million dollars in profit and stopped what would have been a record year across the group.
The company expects an improvement in the 2016 financial year.
"Based on law of averages, and there's some science to long range weather forecasts, that this year with good weather, we should be looking to perform at more normalised level," said Mr Burke.
The company hopes to boost ticket sales by dropping prices and encouraging people to buy tickets as early as possible.
Weather woes weren't the only thing hitting the bottom line.
Returns from the Las Vegas Wet `n' Wild dropped 12 per cent when a rival water park opened nearby.
But box office hits including the Imitation Game, American Sniper and 50 Shades of Grey helped the cinema division increase earnings by 14 per cent.
Mr Burke said the outlook was very positive for the upcoming year with the final instalment of the Hunger Games franchise and new James Bond and Star Wars movies slated for release.
The company expects to keep increasing overall spend per person by introducing hot food at the candy bar.
Distribution rights to the hugely popular Game of Thrones and The Hobbit couldn't offset the company's film distribution business with earnings down 17 per cent.
While the DVD market declined, the company's television earnings lifted 21 cent thanks to a multi-year agreement with Netflix.
THEME PARK WASHOUT
* Net profits: down four per cent to $43.2 million
* Income: up four per cent to $1 billion
* Final dividend: steady at 14 cents a share.
Share
