Coast Entertainment has announced a substantial increase in earnings for the half-year ending December 30, buoyed by rising attendance and ticket sales. The company, which operates the Dreamworld theme park, reported a 30.2 per cent increase in operating revenue, reaching $62.2 million. Coast Entertainment focuses on delivering entertainment and leisure experiences to domestic and international visitors. Through its diverse portfolio of theme parks and attractions, the company aims to create memorable moments for guests of all ages.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), excluding specific items, rose sharply to $8.7 million, a significant jump from the $1.9 million recorded in the previous corresponding period. Net profit saw a more modest increase of 1.4 per cent, reaching $3.2 million. The prior period’s results were impacted by a $5.4 million one-off insurance income related to storm damage.
Key performance indicators demonstrated strong growth, with ticket sales climbing by 46.6 per cent and total visitation increasing by 44.4 per cent. Dreamworld achieved a new daily attendance record during the school holiday period, contributing to a 42.8 per cent increase in deferred revenue, which now stands at $21.8 million.
Looking ahead, Coast Entertainment noted that trading in January remained robust, with year-to-date visitation up by 32 per cent and ticket sales up by 36 per cent. However, the company cautioned that growth is expected to moderate in the second half of the year as it faces tougher comparisons against a strong prior period.
