Funpark operator raises profit

The company made an after tax profit of $1.07 million for the year to June 30, compared with $184,000 the year before. No dividend was declared.

Sales revenue was up only marginally, but following the sale of its Christchurch Gondola operations at the end of its last fiscal year, the group concentrated on a new 18-storey tower at its Auckland-based Rainbow's End theme park.

The tower opened in October 2001 and had proven to be a drawcard. The park attracted an extra 32,000 visitors, despite adverse weather conditions at the end of the financial year. More than 293,000 people visited the park during the year, the highest level since the company bought the park in 1995.

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