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VILLAGE Roadshow has put a horror 2006 behind it, yesterday posting a major turnaround in profit that was aided by full ownership of its Gold Coast theme parks.
Village posted a net profit of $45.08 million for 2006-07, up from a $40.7 million loss in the previous financial year - a figure affected by big losses in its film production division.
Good attendance and strong trading at its theme parks and cinemas, coupled with a strong radio-unit performance, contributed to the solid results.
"The strong performances in theme parks, cinemas and radio have driven earnings and provided the group with significant cash flows," said chief executive Graham Burke.
During the first half, Village Roadshow bought out its 50 per cent partner in its Gold Coast theme parks, Warner Bros, and secured the remaining share of...
