Record year for Jade Stadium

October 21, 2004

Record year for Jade Stadium

One of New Zealand’s most successful sport and concert venues, Jade Stadium, today announced record revenue of $8.4 million for the year ended June 2004.

Super 12 and NPC rugby, a Meat Loaf rock concert and the first National Rugby League (NRL) game in the South Island helped total attendance for the year tip over 413,000.

Underpinning an outstanding year for the stadium was the strong performance of the Crusaders and the Canterbury rugby teams.

The Meat Loaf concert in March, watched by 21,000 fans, was the first major outdoor concert at the stadium since 1997.

The other special highlight, apart from 10,000 people attending conferences and functions, was the NRL game in June which drew 16,500 fans.

Chairman Hanlin Johnstone said the 12 months to June 30 was the most successful period on and off the field since the company was set up six years ago.

``The Meat Loaf concert demonstrates Jade Stadium is once again a viable option for major acts coming to New Zealand.

``Christchurch clearly attracted more crowds than Meat Loaf’s Auckland and Sydney gigs which suggests the stadium will once again host more heavyweights of world music.’’

In cricket, Jade Stadium hosted the normal diet of top class international one day matches as well as the State Shield final and the annual State of Origin match. After a three year absence, the stadium will host test cricket in March 2005, when New Zealand take on Australia.

The outstanding year saw revenue total $8.4 million, up from $7.6 million the previous year. In four years, Jade Stadium’s annual revenue has climbed from $1.5 million to $8.4 million.

Total assets stood at $42.5 million and total liabilities $39.6 million. The net deficit was $719,669 (after allowing $2.9 million in depreciation), compared with a deficit of $1.3 million in 2003.

Chief executive Dean McKenzie said the major event for 2005 would be the hosting of the first Lions test on June 25.

``With over 15,000 tourists expected to visit Christchurch, the city will be the place to be that week.

``This event will be a huge challenge for the stadium and the city. We see this as the biggest sporting event in the city possibly since the 1987 World Cup.’’

ENDS

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