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If the operators of the Rainbow's End theme park were basing their patronage numbers on the awful weather Auckland's experienced in recent months, the figures would make sad reading indeed.
But since they report on the year to June, a year when the sun actually shone a decent amount, the results are very positive.
Rainbow's End operator New Zealand Experience today reported its year to June net profit rose to $1.3 million from $828,000 a year ago.
It said it would pay a fully imputed 3cps dividend on September 28, up from 2cps last year.
Operating revenue rose 9.2 per cent to $9.5m and pre-tax profit rose to 1.9m, up 56 per cent.
Earnings per share rose to 3.54cps from 2.24cps.
Company directors said this was a record result for the group, with figures exceeding expectations set at the beginning of the year.
Previously poor annual results have been blamed on bad weather during the school holidays.
Relatively fine weather throughout the 2007 financial year, coupled with continued cost management were behind the improved profit.
Park visits increased by almost 5 per cent despite a $1 increase in admission prices in December 2006.
NZ Experience shares were untraded today, having last traded on Wednesday at 32 cents. They have risen from 26c a year ago.
- NZPA
