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Why Village Roadshow Ltd (ASX:VRL) just posted a $7.3 million loss

Struggling entertainment and media company Village Roadshow Ltd (ASX: VRL) today announced an underlying loss of $7.3 million.

Village seem to be doing as much as it can to remedy its situation with debt reduced via a capital raising and asset sales together with ongoing efforts to reduce costs.

It bravely forecast an improved result for 2019.

Village’s operations are still feeling the impact of the Dreamworld tragedy, with its theme parks segment still experiencing lower than expected attendances in usually busy holiday periods.

But the company believes its theme parks operations will “return to a positive trajectory” if July’s performance is anything to go by, with record ticket sales recorded.

Village is among several beaten down ASX shares that have seen better days, with Retail Food Group Limited (ASX: RFG) on the list after debt problems saw it shares plunge in the last 12 months.

Commercial printing company PMP Limited (ASX: PMP) is also at a multi-year low with its FY18 results due out on August 30.

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Returns as of 6th October 2020

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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