MANAGING DIRECTOR’S
REVIEW OF
OPERATIONS
BY DIVISION
DAVID SEARGEANT – MANAGING DIRECTOR
The Group achieved a normalised result, being profit before
individually significant items and income tax, of $81,914,000
(2006: $73,693,000) being 11.2% above the prior year result.
This increase in normalised earnings was the result of increased
earnings from Cinema Exhibition International, Thredbo Alpine
Resort and property.
ENTERTAINMENT
Cinema Exhibition – Domestic
AS AT 30 JUNE
2007
56
467
2006 MOVEMENT
Cinema locations*
57 (1)
Cinema screens*
475 (8)
* Owned, joint venture and managed cinema sites.
Domestic Exhibition achieved growth
in Box Office of 1% over the prior year,
with softening admissions offset by
growth in the average admission price.
Total revenue grew by 2.2% over the
prior year.
The top-five grossing films for the year
all achieved in excess of $30 million at
the Box Office. The films included
Pirates of the Caribbean: Dead Man’s
Chest, Pirates of the Caribbean: At
World’s End, Casino Royale, Happy
Feet and Shrek the Third.
Merchandising revenue continued to
drive revenue growth, with a 7.2%
increase in spend per customer
experienced over that of the prior year.
The growth was due primarily to the
ongoing success of Gold Class and food
and beverage initiatives, including the
rollout of Kick! Juice Bars into our key
locations and a number of successful
Candy Bar Combo promotions.
New initiatives and a determined focus
to encourage customers to book tickets
online have delivered impressive results,
with the number of customers using
this channel increasing by 79.7% on
the prior year. Similarly, the introduction
of Gift Cards in December proved to
be very successful with pre-purchased
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