Macquarie hit by Dreamworld falls

Macquarie Leisure Trust, owner of the Dreamworld and WhiteWater World parks on the Gold Coast, has reported an 18.5% fall in profits to $39.4 million for the year to June 2008.
Although attendance at Dreamworld was up 3.8%, the park recorded flat earnings of $33.6 million and was affected by a $42.7 million writedown in value due to the higher cost of borrowing.
In it's first full year of operation since opening in December 2006, WhiteWater World saw pre-tax earnings of $7.5 million
Macquarie did see growth in its bowling and health club businesses which helped to boost group revenue.