Ardent puts faith in locals for Dreamworld reopening

Michael BlebyDeputy property editor

Aug 27, 2020 – 1.47pm

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Key Points

Revenue ($m) 410.5, down -16.7%
Pre-tax profit ($m) -131.9, down174.8%
Net profit ($m) -136.6, down124.3%
No final dividend

Ardent Leisure plans to reopen its Dreamworld and WhiteWater World theme parks in time for the start of school holidays next month, even as analysts question whether it will be able to trade profitably with fewer rides and reduced hours as it targets local visitors only.

The two Gold Coast attractions Ardent closed in March due to COVID-19 will reopen on September 16 at half capacity, with two fewer rides at Dreamworld and the neighbouring WhiteWater World only open on weekends, after cuts of up to $12 million from their annual running costs.

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.