Strong performance for WWW

[GoGoBoy]

In addition to Richard's latest article regarding Dreamworld's overall performance, I thought I would post some extracts from Macquarie Leisure's latest press release. I have edited it so that it only contains info relating to DW and WWW - Dreamworld revenues increase, with the two day pass gaining popularity Total revenue for the nine month period to 31 March 2007 was A$69.28 million, representing an increase of 5.2 per cent over the prior corresponding period. Dreamworld’s attendance figures recorded a marginal decline of 0.9 per cent for the nine months, against a two per cent decline recorded in the first six months. Per capita expenditure again grew strongly by 6.1 per cent to A$63.56. Rent increased 10.5 per cent to A$25.39 million for the same period. The Group‘s Chief Executive Officer Mr Greg Shaw said, ”The opening of WhiteWater World has increased attendance at Dreamworld during the third quarter. Some 29.5 per cent of WhiteWater World patrons upgraded to a two day World Pass during the period. As a result, Dreamworld’s attendance for the quarter rose 1.7 per cent from the prior year.” Mr Shaw also noted that on 31 March 2007, Dreamworld celebrated the birth of two healthy Sumatran tiger cubs as part of an internationally recognised endangered species breeding program. The new additions to the Tiger Island family will be on display for the July school holidays and will raise public awareness of Dreamworld’s campaign to save the species. Strong performance for WhiteWater World since opening WhiteWater World achieved revenues of A$6.08 million for the period since opening to 31 March 2007 following favourable trading in February and March 2007. Mr Shaw advised that this new business had performed strongly in its initial months of trading. He said, “WhiteWater World has already developed a strong, local south east Queensland client base. We are now concentrating our marketing efforts on maximising opportunities from interstate and special events markets. These markets are expected to grow strongly in the following financial year, providing greater opportunities for growth.” WhiteWater World opened in December 2006 and has delivered rental of A$2.86 million (before pre-opening expenses) for the period to 31 March 2007. The Macquarie Leisure Trust Group has continued to benefit from holding dominant positions within a number of fast growing leisure segments. “As anticipated, WhiteWater World has successfully captured significant untapped demand for a quality water park experience in the south east Queensland market. In doing so, it has provided added impetus to the Dreamworld business,” Mr Shaw said.