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Lakes Leisure Announces Half Year Result

12 March 2012

Lakes Leisure Announces Half Year Result Ending 31 December, 2011

Lakes Leisure has reported a 23% increase in participation numbers for the comparable period in 2010, recording 333,023 visits to its facilities in the six month period.

Lakes Leisure is a not for profit organisation and achieved a close to breakeven result for the six months to December 2011. This result included a $150K partial repayment of the bank loan for the fit out of Alpine Health & Fitness, the funding of community programmes and reinvestment into revenue retention and generation.

Despite increasing participation and inflationary impact, Lakes Leisure has reduced operational funding from 2010/11 levels effectively reducing rate payer reliance with operating grant funding as a percentage of total revenue sitting at 39%. This has improved from 43% in 2010.

There was strong growth in all areas of the business with Aquatics achieving 12% growth in the period recording 102,167 visits to the Queenstown, Wanaka and Arrowtown swimming pool facilities. Although small Arrowtown was a standout success in the period, doubling its December numbers from 2010.

Alpine Health & Fitness reported an increase in participation numbers of 20,512 with 90,631 visits recorded in the six month period, 29% up on the same period in 2010. Sports field use increased by 16% and Lakes Leisure venue use was also up by 46% in the period.

Lakes Leisure CEO Fiona McKissock described the period as a resounding success.

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“Participation continues to grow in all areas of the business and the results give me full confidence that the direction Lakes Leisure is moving in is the right one in terms of meeting our wider objectives. Lakes Leisure’s role is to contribute to the community outcomes within the Council’s Long term Plan, specifically around supporting the development of a safe and healthy community and the infrastructure that will meet the needs of growth. Our focus on understanding the community better and QEC facilities’ planning is certainly consistent with those objectives.’ Ms McKissock said.

A copy of the Lakes Leisure Six Month Report December 2011 can be downloaded at: www.lakesleisure.co.nz/downloads/Corporate/Six_Month_Report_Dec_2011.pdf

ENDS

© Scoop Media

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