Quantcast

Merlin Entertainment reports pre-tax profits of £285m

0

Alton Towers owner Merlin Entertainment reported a hike in sales and profits for 2018.

Figures announced on Thursday, showed a rise in pre-tax profits of £285m by 4.9% in 2018, sales grew to £1.69bn by 5.9%.

Merlin Entertainment has had a rollercoaster time after the London terror attacks affected their performance during 2017.

The company had a record 67m visitors last year an increase of 1.4%.

The entertainment company, Merlin owns Madame Tussauds and Thorpe Park and operates the London Eye and the London Dungeons.

Merlin’s shares were up 2.5% in early morning trade, at 361p.

Nick Varney, chief executive said, “2018 saw improved momentum across most of our businesses, reflecting the strength of our diversified portfolio and geographic spread.

“Resort theme parks benefited from successful product investment such as Wicker Man at Alton Towers; Legoland parks growth was driven by record levels of accommodation openings; and, in addition to the contribution of seven new attractions, Midway saw improving trends in London.”

Merlin also flagged “significant cost pressures” they have faced, including having to fork out for the National Living Wage and rising utility and business rates bills.




Share.