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Trading statements

Merlin Entertainments' trading year-to-date in line

13 June 2017 07:14

Merlin Entertainments says group trading in the year to date has been broadly in line with expectations, but also notes the impact of the three terror attacks in the UK this year.

In the company's Midway London Division, trading in the early part of the year had benefited from stronger foreign visitation to the UK reflecting the more favourable foreign exchange rates.

"This continued in the immediate aftermath of the Westminster attack on 22 March, although the incident did result in a softer domestic, day-trip market," the company said.

"However, the subsequent attacks in Manchester and London over the past month have resulted in a further deterioration in domestic demand and, given the typical lag between holiday bookings and visitation, we are also cautious on trends in foreign visitation over the coming months."

Merlin added that trading in the LEGOLAND Parks and Resort Theme Parks Operating Groups was in line with expectations, although a number of its UK parks have been adversely affected in recent weeks by the terror attacks and subsequent heightened security measures.

CEO Nick Varney said he was pleased that Merlin was making good progress towards its 2020 New Business Development milestones.

"That said, the impact of recent terror attacks on our London attractions is unclear at this stage," he added.

"What is clear however is that London has bounced back before, and will do again. I have every confidence in the longer term resilience and growth trajectory of the market."

Story provided by StockMarketWire.com

Related Company: MERL

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