May 24, 2018 / 3:47 PM / 3 months ago

Ski resort operator Compagnie des Alpes H1 profits rise

PARIS, May 24 (Reuters) - Compagnie des Alpes reported a rise in first-half profits on Thursday, helped by higher sales at its ski resorts and theme parks operations.

Compagnie des Alpes (CDA) operates 11 ski resorts in France and 13 leisure parks in Europe, including Parc Asterix and the Grevin wax museum in Paris. It wants to expand abroad, notably in high-growth markets such as China, and has been looking for partners to help with this expansion.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 6.7 percent to 169.8 million euros ($199.35 million) in the six months to March 31.

The company’s fiscal year runs from October to September.

The ski business, which makes the bulk of group sales, suffered during the first two weeks of April due to a late school holiday calendar and a transport strike in France but went on to recover somewhat for the end of the ski season.

As a result, the group expects growth in sales for the ski division to be slightly higher than 2 percent for full year 2017/18.

Figures for 2016/17 were restated to notably reflect the reclassification of the Grevin Prague and Grevin Seoul museums as discontinued businesses.

$1 = 0.8518 euros Reporting by Dominique Vidalon, Editing by Ingrid Melander

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