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Annual Results

Merlin Entertainments lifts FY pretax profit, divi steady

02 March 2017 07:42

Merlin Entertainments improved its FY pretax profit to £277m, form £259m, with more than 70% of its profits coming from outside the UK as it continues towards achieving its 2020 milestones.

EBITDA was up at £451m, from £433m. Dividend per share was flat at 7.1p a share.

CEO Nick Varney said Merlin had seen the continuation of a recovery in Resort Theme Parks, steady growth in LEGOLAND Parks and a strong contribution from New Business Development.

"The external environment continued to present challenges in a number of our key markets although the impact of this was offset to some degree by cost control measures taken during the year," he said.

Merlin had good progress against its 2020 milestones in 2016.

Five new Midway attractions opened, the accommodation offering was expanded, and entry into the Middle East region was celebrated with the opening of LEGOLAND Dubai in October.

"The pipeline into 2017 and beyond looks exciting with over half of the projects necessary to achieve our 2020 milestones either opened, approved or under development," said Varney.

"As we move into 2017, with ongoing volatility in a number of our markets and continued cost pressures, we will increase our focus on cost efficiency and productivity, while continuing to invest in our product, marketing, and people to deliver safe and memorable experiences to our guests."

Story provided by StockMarketWire.com

Related Company: MERL

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