SeaWorld – the US leisure park at the centre of an animal rights storm – has announced a new cost-cutting initiative in the middle of its change in strategy.
Shares in the company leapt at the open after sinking in the pre-market on the back of its third quarter results. Attendance fell 0.4 per cent to 8.3m, blamed on adverse weather in the north east of the US.
SeaWorld’s third-quarter earnings fell to $65.7m (£52m), from $98m in the same period a year ago. Revenue declined two per cent to $485.3m.
SeaWorld said in March it would abandon breeding its signature killer whales in a bid to reshape its image following public backlash against the treatment of animals.
The company now wants to reduce costs by around $65m, targeting $40m in net savings by the end of 2018.