KEY POINTS:
New Zealand Experience, owner of Rainbow's End theme park in Auckland, has reported a $1.047 million profit in the year to June 30, down 19.4 per cent from $1.299 million in the same period last year.
Directors said that while the profit was down on last year it was ahead of internal targets and market guidance.
"The 2007 result ... was considered somewhat exceptional," the company said.
The park had 298,000 visitors in the year, down 1 per cent on the previous year.
Visitors spent more, helping lift total revenue by 1.4 per cent to $9.38 million.
Higher payroll costs helped reduce earnings before interest, tax, amortisation and depreciation by 13.2 per cent to $2.85 million.
Admission prices to Rainbow's End rose by 10 per cent on August 1. A 2.5c final dividend is payable on October 10.
- NZPA
