Ardent Leisure thrills investors
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Ardent Leisure (AAD) has rallied to its highest level since the global financial crisis after the leisure and fitness facilities manager reported bullish earnings in the September quarter.
Group revenue jumped 19.8% to $126.2 million as earnings before interest, tax, depreciation and amortisation (EBITDA) improved 19.4% to $32.3 million compared with the previous quarter.
The strong sales momentum was primarily driven by its fitness centre division, theme parks and family entertainment centres in the United States. There are also early signs of a turnaround in earnings for its bowling business.
The stock, which is part of the Uncapped 100, jumped 2% to $2.01 at 11.15 AEST, its highest point since August 2008.
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