Ocean Park records profit of almost HK$120m
Ocean Park said on Wednesday that its businesses came out of the red in its 2022-2023 fiscal year, recording a profit of just under HK$120 million, compared with a loss of HK$1.82 billion the previous year. Income during the fiscal year ended June rose nearly 54 percent to HK$839 million.  Revenue from park admissions rose 57 percent to HK$427 million. Consumption, merchandise and food and beverage spending all recorded increases.  Ocean Park had 2.1 million visitors, and Water World welcomed 300,000 – up from 1.4 million and 200,000 the year before. The theme park's chief executive, Ivan Wong, said the 45 percent rise in visitor numbers and a 6 percent rise in spending were thanks to a revitalised economy as Hong Kong returned to normal after the pandemic, as well as the company's business strategy implemented in 2021 which is now showing results. As of the end of June, the park was sitting on cash and bank balances totalling HK$1.68 billion – up 28 percent year-on-year. It also clawed back HK$70 million from impairment provision, indicating a better business outlook.