LIVING and Leisure Australia Group has booked an interim net profit after tax of $15.6 million, representing a $2.1 million increase, thanks the ski fields and aquarium business returning positive.
Earnings before interest and taxation also rose to $30 million compared to $26.3 million. LLA achieved segment revenue of $83.4 million, a $3.3 million increase on the corresponding period in FY10.
CEO John Schryver said the Tree Top Walk division was not able to deliver year on year growth which in part was affected by the wettest year in Southern Australia in the past decade. However early indications are positive that the group’s recent $1.4 million investment in a new Zip Line Adventure Tour would help drive visitation growth.
Schryver said LLA had cash at bank of $34.9 million at 31 December 2010, reducing net debt (debt less cash) to just over $100 million (FY10 $108 million) placing the Group in a strong financial position.
The ski field business Australian Alpine Enterprises achieved an EBITDA of $21.3 million up from $19.4 million. Whilst the aquarium business, Oceanis, delivered an EBITDA result of $10.1 million compared to $8.2 million.
Australian Property Journal
