Ocean Park Hong Kong saw a drop in visitor numbers for the second consecutive year, resulting in a 53 percent drop in its net surplus to HK$45.2 million.
Revenue remained at last fiscal year’s level of HK$1.97 billion, the first time the theme park recorded no growth since 2008-2009, the Hong Kong Economic Journal reported.
Chairman Leo Kung Lin-cheng said the company’s performance was dragged down by slow growth in the United States and China, a poor outlook in Europe and higher operating costs.
The stronger Hong Kong dollar also dampened the city’s competitiveness compared with counterparts in Asia.
For the 12 months to June, the park hosted 7.4 million visitors, down 2.6 percent from the previous fiscal year.
The poor results came despite a hike in entrance fees in January that saw ticket prices for adults rising 7.8 percent to HK$345 and those for children up 7.5 percent at HK$173.
Construction of the new water park is expected to be completed in the first half of 2018, with the budget growing to HK$2.9 billion from HK$2.29 billion.
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