BRITISH COLUMBIA

Whistler Blackcomb reports increase profit in Q1; revenue also higher

05/08/2013 01:18 EDT | Updated 07/08/2013 05:12 EDT
WHISTLER, B.C. - Whistler Blackcomb Holdings Inc. (TSX:WB) has reported improved revenue and earnings in the first quarter.

The ski resort operator said Wednesday it earned $33.1 million or 87 cents per share in the three months ended March 31, up from $30.9 million or 81 cents in the same 2012 period.

Resort revenue increased 5.4 per cent to $132.2 million from $125.5 million, primarily as result of increased lift ticket prices and customers spending more per visit, the company said.

"During the quarter, our regional market continued to exhibit strength, with increased skier visits and record season pass and frequency card sales," president and CEO Dave Brownlie said in a statement.

"We also generated increased guest spending per visit during the first half of 2013. As a result, we continued to drive revenue and EBITDA growth," he said.

Whistler Blackcomb Holdings Inc. owns 75 per cent interests in Whistler Mountain Resort Limited Partnership and in Blackcomb Skiing Enterprises Limited Partnership.