Mar 2, 2017
Terrorism fears hit Merlin Entertainments
The impact of terrorism fears on visits to attractions such as Madame Tussauds waxworks and the London Eye have been blamed by Merlin Entertainment for holding back its profits. Operating profits grew 4 per cent to £302m in the year to December 24 compared with a year earlier, but that would have been a fall of 6 per cent at constant exchange rates. Revenues were up 12 per cent to £1.43bn, or up 4 per cent at constant exchange rates. Pre-tax profits rose 3.4 per cent to £259m. The shares fell 4 per cent in morning trading to 477p. At its division running city centre attractions, which counts for 44 per cent of total revenues and includes Sea Life aquariums and Shrek's Adventure, like-for-like sales slipped 0.2 per cent. The company announced a final dividend of 4.9p, taking the total full-year dividend to 7.1p, up 9.2 per cent on a year earlier.
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