Ardent Leisure results continue to be impacted by Dreamwold incident

Company News

by Rachael Jones

In October last year Ardent Leisure Group (ASX:ALG) proposed to establish a new listed company, Ardent Leisure Group Limited as the single head entity of the Group, in place of the previous stapled structure.

The Group recorded a net loss after tax of $21.8 million for the period ended 25 December 2018, compared to a net loss of $15.6 million in the prior corresponding period.

The prior period included $6.7 million net profit from discontinued operations, comprising the Marinas business which was sold in August 2017 and Bowling and Entertainment business sold in April 2018.

During the period, the Group reported segment EBITDA from continuing operations of $0.5 million compared to a EBITDA loss of $15.7 million at 26 December 2017.

Results continue to be impacted by Dreamworld incident costs due to the coronial inquest as well as various restructuring and other non-recurring costs in Main Event, Theme Parks and Corporate.

Shares in Ardent Leisure Group (ASX:ALG) are trading 1.05 per cent lower to $1.42.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.