The Invader ride at Rainbow's End
Photo / supplied
The Invader ride at Rainbow's End
Photo / supplied
Rainbow's End theme park operator New Zealand Experience is reporting a 9 per cent rise in full year directly comparable underlying profit to $1.22 million, as visitor numbers rose by 20,000.
Total operating revenue for the year to the end of June was up 0.6 percent to $10.58m, with thecompany saying trading revenue rose 9 percent including a strong first half but a weather disrupted second six months.
Total expenses were up 6.9 per cent to $8.52m, including employee costs up 14 per cent to $3.94m. An annual dividend of 2.8c per share is to be paid, up from 2.5cps the year before.
When factors to do with the lease of the site and deferred taxes were included, the company reported an underlying profit up 21 percent to $1.45m and a reported profit down 3.3 per cent to $1.49m.
Among projects built in the latest year's $1.27m capital spending programme were a new stage and a centre court food area, NZ Experience said today.
In the year ahead a new maintenance facility and workshop was to be built to support the park's longer term expansion plans.
Planning and feasibility work was under way on the next major proposed capital project.
After tax profit for the current year was expected to be between $1.4m and $1.6m, with an increasing number of visitors targeted to cover a higher cost base.
