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Legoland performs for Merlin, but UK attractions struggle following terror attacks
POSTED 07 Aug 2017 . BY Tom Anstey
New additions to its portfolio and strong performances from its Lego attractions have boosted revenues for Merlin Entertainments, though the operator says its attractions in the UK are suffering as a result of recent terror attacks in the country.

Reporting its latest earnings, in the first half of 2017, Merlin recorded increased revenues of £685m (US$891.7m, €756.3m) – up by 9.6 per cent - while earnings before interest, tax, depreciation and amortisation (EBITDA) were £144m (US$187.5m, €159m) – an increase of 2.4 per cent.

Visitor numbers for the first half of the year were also up, increasing 6.2 per cent, with 29.7 million visitors to Merlin attractions so far this year.

Merlin said it had strong revenue performance despite some “difficult markets” particularly softness in the UK theme park market and its midway attractions in London, which it called “subdued”.

“The series of terror attacks in the UK immediately and significantly reduced domestic demand, and we remain cautious on international visitation over the key summer trading period given the lag between international bookings and visitation,” said the operator in a statement.

For Merlin’s Midway division, which includes attractions such as Shrek’s Adventure, Dungeons and Sea Life aquariums, operating profits fell from £91m (US$118.5m, €100.5m) to £89m (US$115.9m, €98.3m), though this figure also included the opening of new attractions.

Merlin’s Legoland parks have performed well, with revenue increasing 8 per cent to £267m (US$347.6m, €294.9m), and operating profits up 32.1 per cent to £85m (US$110.6m, €93.9m). Merlin attributed these increases to the launch of Legoland Japan, a strong Easter period and new accommodation at its parks in Billund and Florida.

"We continue to be excited by the long term underlying growth prospects in our market and have the strategy in place to exploit these,” said Merlin chief executive Nick Varney.

“We remain on track to meet our 2020 milestone targets, supported not only by the attractions and accommodation opened to date, but also by the progress we have made on the pipeline, in particular the ongoing development of new brands which will underpin the longer term roll out."
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NEWS
Legoland performs for Merlin, but UK attractions struggle following terror attacks
POSTED 07 Aug 2017 . BY Tom Anstey
New additions to its portfolio and strong performances from its Lego attractions have boosted revenues for Merlin Entertainments, though the operator says its attractions in the UK are suffering as a result of recent terror attacks in the country.

Reporting its latest earnings, in the first half of 2017, Merlin recorded increased revenues of £685m (US$891.7m, €756.3m) – up by 9.6 per cent - while earnings before interest, tax, depreciation and amortisation (EBITDA) were £144m (US$187.5m, €159m) – an increase of 2.4 per cent.

Visitor numbers for the first half of the year were also up, increasing 6.2 per cent, with 29.7 million visitors to Merlin attractions so far this year.

Merlin said it had strong revenue performance despite some “difficult markets” particularly softness in the UK theme park market and its midway attractions in London, which it called “subdued”.

“The series of terror attacks in the UK immediately and significantly reduced domestic demand, and we remain cautious on international visitation over the key summer trading period given the lag between international bookings and visitation,” said the operator in a statement.

For Merlin’s Midway division, which includes attractions such as Shrek’s Adventure, Dungeons and Sea Life aquariums, operating profits fell from £91m (US$118.5m, €100.5m) to £89m (US$115.9m, €98.3m), though this figure also included the opening of new attractions.

Merlin’s Legoland parks have performed well, with revenue increasing 8 per cent to £267m (US$347.6m, €294.9m), and operating profits up 32.1 per cent to £85m (US$110.6m, €93.9m). Merlin attributed these increases to the launch of Legoland Japan, a strong Easter period and new accommodation at its parks in Billund and Florida.

"We continue to be excited by the long term underlying growth prospects in our market and have the strategy in place to exploit these,” said Merlin chief executive Nick Varney.

“We remain on track to meet our 2020 milestone targets, supported not only by the attractions and accommodation opened to date, but also by the progress we have made on the pipeline, in particular the ongoing development of new brands which will underpin the longer term roll out."
RELATED STORIES
Merlin chief executive to deliver keynote address at IAAPA 2017


Merlin Entertainments CEO Nick Varney has been named keynote speaker for the 2017 IAAPA attractions expo in Orlando, Florida.
Varney calls on new government to shake up "undervalued" tourism sector


Merlin Entertainments chief Nick Varney has said the next UK government must hand over responsibility for promoting tourism to a new department, saying the Department for Culture, Media and Sport (DCMS) had made it a “second-tier priority”.
Merlin attractions close river rapids rides following Drayton Manor death


A number of Merlin attractions have closed their river rapids rides, following the death of 11-year-old Evha Jannat, who was killed at Drayton Manor on Tuesday after falling off the ride into the water.
Merlin could pull plug on Shrek’s Adventure roll out


It’s almost a year since Universal’s parent company Comcast acquired DreamWorks, and now Merlin Entertainments boss Nick Varney has to decide what to do with its Shrek’s Adventure midway.
MORE NEWS
Lasipalatsi building refurbishment finishes as Amos Rex announces August opening
Amos Rex, a new art museum in Helsinki, is set to open in August 2018, following the refurbishment of the Lasipalatsi building in Central Helsinki.
Opening of Caribbean's first adventure theme park increases tourism potential for Trinidad
Trinidad's tourism industry could be about to get a significant boost, following the launch of the Caribbean's first ever adventure theme park.
New Tate St Ives in the running for 2018 Stirling Prize
Tate St Ives is the only leisure building to find its way onto the shortlist for the 2018 RIBA Stirling Prize for the UK’s best new building.
British Museum seeks to acquire 'Trump Baby' for dissent exhibition
London's British Museum is planning to borrow the Trump Baby blimp, which flew over the capital's streets last week in protest against US President Donald Trump's visit last week.
+ More news   
LATEST JOBS
Business Turnaround Manager
The Jockey Club
Salary: Up to £55,000 (depending on experience) + pension
Job location: Newmarket, UK
Visitor Services Supervisor
Royal Botanic Gardens Kew
Salary: £24,835 per annum
Job location: Wakehurst, West Sussex
Overnight Accommodation Manager
Zoological Society of London
Salary: £31,464 per annum
Job location: London, UK
Forest Centre Operations Manager
Forestry Commission
Salary: £29,695 - £32,811
Job location: Thetford, UK
Marketing Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Kansas City, Missouri, USA
Marketing Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Melbourne VIC, Australia
+ More jobs  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

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