EXTERIOR - DREAMWORLD
EXTERIOR - DREAMWORLD

Dreamworld’s Ardent Leisure takes a $22.5m hit

DREAMWORLD's parent company Ardent Leisure has been dealt a blow - just days before the findings of the Thunder River Rapids inquest.

In a half-yearly report to shareholders on Friday, Ardent announced a net loss of $22.5 million for the first six months of the 2019-20 financial year.

The figure was slightly higher than the corresponding period last year.

Encouragingly for the company, overall revenue increased by $36.6 million, with the losses blamed largely on higher borrowing costs and a new lease accounting standard.

The theme parks arm of the business, including Dreamworld and WhiteWater World, recorded a loss of $1.7 million.

The figure was significantly less than the $5.1 million EBITDA loss sustained during the same time period last year.

Overall revenue from the theme parks also increased by $4.3 million, in a sign crowds are starting to return to Dreamworld.

Ardent shareholders will not be paid a dividend, with the company continuing to invest extra revenue in to Dreamworld 'to drive recovery and growth'.

Coroner James McDougall is set to deliver his findings in to the 2016 tragedy on Monday.


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