PHOTO: Dream World –

The enforced closures of Ardent Leisure’s (ASX: ALG) theme parks in Australia and cinemas in the US due to COVID-19 restrictions resulted in the company’s loss ballooning to $136.6 million in FY20.

Total reported revenue for the Dreamworld operator decreased by $85 million to $398.3 million in the full year, also due to COVID-19 restrictions on trade.

The results capped off another rough year for Ardent Leisure which was witnessing revenue growth of 5 per cent for the 35 weeks up to the end of February 2020, before the pandemic hit Australia and the US.

However, from March onward, the company only brought in $68.2 million of earnings, compared to $362.3 million generated pre-pandemic.

Ardent Leisure also suffered from an impairment charge of $15.4 million on property, plant and equipment in its theme parks division, and a charge of $2 million relating to the its Main Event cinema business.

The company’s chairman Dr Gary Weiss did not play down the disappointing FY20 results.