Ardent Leisure has cut its second-half distribution to 1¢ from 5.5¢ last year and lowered its full-year earnings forecast as a result of falling sales at its key US business and reduced business at its Australian Dreamworld theme park.
The troubled entertainment company on Friday said core EBITDA earnings for the group – reflecting the loss of earnings from Dreamworld and its now-divested gyms business – would be between $73 million and $75 million. A year earlier the figure was $136.7 million.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
