Business

Profit warning issued by theme park owner

07:05 am on 9 February 2012

The owner of Auckland theme park Rainbows End has issued a profit warning, after bad weather and the Rugby World Cup kept visitors away.

New Zealand Experience expects to make a profit of about $750,000 in the six months to the end of December.

That's up to $850,000 less than earlier forecasts and $250,000 less than in the same period a year earlier.

Almost 155,000 people visited the park in the period - 8% fewer than a year earlier, a decline the company blames on bad weather, the Rugby World Cup and fewer pre-Christmas functions.

But it hopes to recover some of the profit shortfall in the next six months, as it holds more functions at the park, and visitors spend more.

Shares in New Zealand Experience were unchanged at 40 cents on Wednesday.