11 Apr 2012

Upgrade announced at Rainbow's End

7:22 am on 11 April 2012

The operator of Rainbow's End theme park in Auckland is to spend $3.5 million upgrading its facilities to boost earnings.

New Zealand Experience says the upgrade of its facilities for younger children should be finished by next Easter and will include an indoor and covered outdoor space - known as Castle Land - for use in all types of weather.

The company admits construction and increased finance charges may affect profits in the short-term, but it expects the upgrade to help the bottom line in the medium term.

It expects full year net profits for the year to the end of June to be between $1.2 - $1.4 million, after its half year profit for the last financial year fell 26% to $740,000.