Ardent Leisure grows nine-month revenue

Ardent Leisure has lifted nine-month revenue on the back of strong trading trends and acquisitions, again led by its Goodlife Health Clubs and US-based Main Event Entertainment divisions.

The group, which also operates AMF and Kingpin Bowling; d'Albora Marinas; and the Dreamworld, WhiteWater World & SkyPoint theme parks and attractions on the Gold Coast, increased nine-month revenue by 12.7% to $379.6 million, compared with $336.72 million in the previous corresponding period.

Chairman Neil Balnaves said strong trading trends continued, with several health club and bowling acquisitions secured in the quarter to complement existing operations.

Balnaves explained "the group remains focused on leveraging our specialised operational expertise to build global scale.”

The Main Event Entertainment division in the US increased earnings before interest, tax, depreciation and amortisation (EBITDA) by 26.2% to US$16.09 million (A$17.34 million) in the period as new centres opened and brand awareness increased.

The Goodlife Health Clubs division posted a 16.7% increase in EBITDA to A$25.23 million as the group acquired two clubs in Melbourne in the third quarter. 

17th February 2014 - GOODLIFE HEALTH CLUBS AND US FECS BOOST ARDENT LEISURE EARNINGS