Village Roadshow FY profit drops

By Maggie Lu Yueyang

Cinema and theme park operator Village Roadshow posted a 10 per cent drop in full-year net profit, affected by one-off costs for the opening of a Sydney park, as it continues to expand its business in Asia.

The company owns Australia’s most popular theme parks including Movie World and Sea World on the Gold Coast, and the new Wet’n’Wild Sydney.

The result was affected by losses from material items and one-off costs related to marketing for the Wet’n’Wild Sydney and Gold Coast theme parks.

The company said domestic household budgets have been squeezed by rising costs and a focus on multiple mobile devices and computers, but said its theme parks and theatres continued to be in demand.

Read more here: Business Spectator


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