Driven by the promotional endeavour, Ardent leisure reports sales growth, Net Loss also decreases

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Driven by the promotional endeavour, Ardent leisure reports sales growth, Net Loss also decreases

Australia-based leisure and entertainment group, Ardent leisure Group Limited (ASX: ALG) has recorded a rise in sales owing to promotional campaigns and an increased number of business events.

The key financial highlights in the result on 26 weeks like-for-like basis are:

  • Rise in the Group revenue to $247.2 million by 9%
  • Main Event revenue rose to USD 5.5 million, up by 4.0%
  • Theme Park revenue increased $1.7 million, up 4.9%
  • Reduction in the corporate cost by ~ $5.3 million
  • Net Loss after tax reduced by 9.3% from the previous reporting period.

The ALG stock last traded at $ 1.410, gaining 4.059% intraday on 21 February 2020.

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