Ardent Leisure declares 1 cps distribution 2H17

Company News

by Jessica Amir

Ardent Leisure Limited (ASX:AAD) says its preliminary full year Core EBITDA guidance for its Theme Parks division is now expected to enter positive territory, instead of the previously expected loss.

The owner of Dreamworld and other leisure assets expects for the 12 months to 30 June 2017 its EBITDA guidance is about $73 to $75 million.

Meanwhile, the company estimates its distribution will be 1 cent per stapled security for the second half of the year ending 30 June 2017, taking its full year distribution to 3 cents per security.

Ardent Leisure says the distribution reflects lower earnings in the Australian business following the disposal of the Health Clubs division, as well as the impact from the Dreamworld tragedy.

Ardent Leisure’s free cash from flow Main Event in the US, is continuing to be re-invested.

Shares in Ardent Leisure Limited (ASX:AAD) are trading 2.82 per cent lower to $2.07.

 

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