Ardent Leisure’s recovery from the Dreamworld tragedy has been slowed by heavy rainfall on the Gold Coast.
A short time ago, Ardent shares were down 1.1% to $1.92.
Four people died in October on the Thunder River rapids ride at Dreamworld when two rafts collided. The theme park reopened on December 10.
In a trading update for March 1 to March 24, the company’s theme parks recorded revenue of $3.1 million, down 34.3% on the same period last year.
Ardent says the Gold Coast experienced a 159% increase in total rainfall, including more at weekends.
“This unfavourable weather negatively impacted the general recovery trend since the Dreamworld tragedy,” the company says.
However, Ardent believes the overall recovery is on track.
Here’s how theme parks have been performing:
Overall, the company recorded unaudited revenue of $US61.5 million for the three months to March, up 25.1%.