NOVEMBER 2020
     

'Timely and measured response'

Aspen predicts 'subdued' year ahead

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ASPEN, which operates a chain of holiday and lifestyle parks, predicts a "subdued" operating environment over the next 12 months.

Its annual report says inbound migration and tourism will remain restricted until COVID-19 is contained.

"We believe Aspen can continue to perform relatively well in this environment as domestic households and tourists seek lower-cost accommodation in attractive locations," it said.

Chairman Clive Appleton (pictured) said the company had performed well during the year despite "very difficult operating conditions" which included catastrophic bushfires and COVID-19.

"Revenues from short-stay guests in our holiday parks has been materially impacted by these events," he wrote in a report letter.

"However, this has been largely offset by management's decisive actions including leasing the majority of our cabins to essential workers and others on a longer stay basis, and a material reduction in operating expenses."

In the 2020 financial year Aspen produced underlying earnings of 6.80 cents per security, a rise of 32 percent over the previous year.

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