New Zealand Experience Ltd, operator of Rainbow's End theme park, has reported a 67.9% rise in annual profit after increasing admission prices and opening a new Invader ride in December.The $1.54 million profit in the year to June 30 was up from $916,000
New Zealand Experience Ltd, operator of Rainbow's End theme park, has reported a 67.9% rise in annual profit after increasing admission prices and opening a new Invader ride in December.
The $1.54 million profit in the year to June 30 was up from $916,000 in the same period last year.
Trading revenues increased by 10% as more customers passed through the gates and also spent more within the park.
The result includes the recognition of changes to the lease for the land the park is on and also the impact of government tax changes.
Excluding these items, the underlying after tax profit rose 2% to $1,12 milllion.
The company is paying a fully imputed 2.5 cents a share final dividend, up from 2.25 cents last year.
The company's 74.9% shareholder, the Estate of George Ryerson Gardiner, is currently looking to sell out and the board is assisting with this process.
