$13.5m aquarium loss 'in line with forecasts'

Aquarium operator Aquaria 21 posted a $13.549 million unaudited deficit for the June half-year, more than five times its $2.426 million loss in the same period last year.

The company said the result was in line with forecasts included in reports circulated to shareholders on the sale of the Shanghai Aquarium to Radwin Properties.

The deficit includes unusual items of $11.746 million, the largest being a writedown of the company's investment in the Shanghai Aquarium of $10.8 million to the agreed sale price.

Other unusual items related mainly to costs associated with the sale of the aquarium and a development project in Pusan, South Korea.

The Shanghai facility recorded a $479,000 loss for the six months.

Visitor numbers were 279,000, with January and June particularly low at 11,000 and 29,000 respectively, the company said.

The settlement for selling the aquarium had been deferred until Friday.

Aquaria shares were unchanged at 3.1c yesterday

- NZPA