Cedar Fair shoots to record profits

Amusement park chain Cedar Fair LP said today that its 2016 profits rose 58 percent to a record $178 million, or $3.14 a share, on revenues of $1.29 billion.

A year earlier, the Sandusky company, which owns Cedar Point and 10 other amusement parks and three water parks, had a profit of $112 million, or $1.99 a share, on revenues of $1.24 billion.

The company attributed the performance to a 3 percent increase in attendance to a record 25.1 million customers, plus a 2 percent increase in average in-park per patron spending to $46.90, which also was a record.

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