Brighton Pier Group H1 sales top £23m amid strong NY trading
Whilst trading was impacted in December due to the restrictions announced by the government, over New Year the bars recovered, trading 9% higher than in 2019
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Brighton Pier Group has reported total sales of £22.7m for the 26-week period ending 26 December 2021, up 177% on the same period in 2020.
Whilst trading was impacted in December due to the restrictions announced by the government, over New Year the bars recovered, trading 9% higher than in 2019.
Brighton Palace Pier saw like-for-like sales increase by 15% during the period when compared with 2019, whilst The Golf Division’s like-for-like sales were up 33% on 2019.
In addition, strong cash flow generation is expected to enable the group to pay down £7.7m of debt, reducing borrowings 38 % by the end of June 2022.
Anne Ackord, CEO, said: “Our businesses target growth within the UK entertainment sector; all are popular, cash generative, asset-backed businesses with further organic growth opportunities – particularly so in the Golf division and the recently acquired Lightwater Valley.
“We expect that 2022 will be a good year. Alongside the announcement of our H1 results in March, we intend to give longer term-guidance showing what we believe our businesses can deliver as we emerge from the pandemic.”
