Oz’s Roadshow ups net profits by 16%

Growth spurt buoys coin

SYDNEY — Riding on the back of strong growth in exhibition, radio and production, Australia’s Village Roadshow Ltd. boosted net profits by 16.4% to a record $A70.1 million ($42 million) in the year to June.

The bullish results on a 12.5% hike in sales to $265.2 million were achieved despite a decline at its three Queensland theme parks, which were affected by the downturn in Asian tourism.

In the past 12 months, VRL added 271 screens to its empire, which now stands at 1,025 screens in 11 territories. A further 240 screens are slated to open before June 30, 1999.

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