|
Brighton Pier Group PLC on Friday announced that its trading performance year to date has been ‘disappointing’. Brighton Pier is a leisure and entertainment business which operates Brighton Palace Pier, England. Brighton Pier said its sales have been adversely affected by poor weather, with a combination of ride closures and lower footfall. The firm reported a 29% decrease in July footfall from a year before. Brighton Pier noted that it has implemented a £1 admission charge to the pier during peak trading periods. The August period has typically contributed a significant portion of annual group sales and earnings. However, Brighton Pier expects earnings before interest, tax, depreciation and amortisation for the full-year to be below market expectations. Chief Executive Officer Anne Ackord commented: ‘The potential return of summer weather in the next six weeks, combined with the additional revenue from admission charging may offset some of the year to date trading deficit. Nevertheless, it is the board’s view that the trading for the full 2024 summer season will be below expectations’. Brighton Pier shares were down 17.5% to 32.60 pence per share in London on Friday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
