RFG GETS A BOOST FROM COFFEE PROFITS
Written on the 23 August 2012
A BOOMING coffee business has delivered Gold Coast-listed Retail Food Group (RFG) a record $30.3 million net profit after tax (NPAT) announced today on the ASX.
Meanwhile, Ardent Leisure Group (AAD) revealed its Gold Coast theme park operations had a tough FY12.
The Dreamworld operator recorded a 7.7 per cent drop in revenue to $93.7 million at its theme park, compared to $101.6 million in the previous fiscal period. EBITDA also dropped 10.4 per cent to $28.9 million.
Visitor numbers fell 21.8 per cent, but per capita spend increased 17.9 per cent.
The company puts the attendance drop down to a combination of wet weather and the reduced number of unlimited season-passes issued.
“Second half revenues and earnings for the theme park division were significantly impacted by record rain during key holiday trading-periods in January, April and June. Second half rainfall of 1249mm was an increase of 79 on prior year rainfall of 696mm,” says the company.
The company is banking on its new attractions including the Buzzsaw rollercoaster, DreamWorks precinct and Big Brother partnership to improve revenues this year.
A new Kung Fu Panda thrill ride and themed area will be completed in December as part of the DreamWorks partnership.
Ardent managed an overall increase in core earnings of 7.1 per cent to $42.1 million, largely thanks to growth in its Goodlife Health Clubs and Main Event operation in the United States.