Village Roadshow NPAT FY17 to be $20m-$23m

Company News

by Jessica Amir

Village Roadshow (ASX:VRL) is expecting to report an attributable net profit after tax (NPAT) before material items and discontinued operations of between $20 million to $23 million for FY17.

The company says its theme park business is continuing to be significantly impacted by the tragedy that occurred at Dreamworld in October 2016 (Dreamworld is owned by Ardent Leisure (ASX:AAD)). 

As a result, Village Roadshow expects its EBITDA for the theme parks division will be about $55 million.

The company expects to recognize an impairment of about $65 million pre-tax for the Wet’n’Wild Sydney assets.

Its Cinema Exhibition FY17 EBITDA is expected to be behind the prior year, which saw all time record performance.

The company is expecting to unveil its full 2017 year results to the market in late August.

Shares in Village Roadshow (ASX:VRL) are trading 0.75 per cent higher to $4.03.

 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.