Oct 17, 2017

Legoland owner warns of terrorism impact to its profits

Shares in Legoland-owner Merlin Entertainments have plunged after the company said recent terrorist attacks had continued to hit visitor numbers. Analysts say Merlin's explanation for the dip in popularity of its UK attractions is at odds with official figures which show the number of foreign visitors to Britain over the summer rose. The deal excludes the UK and China and Merlin said it expects to open Peppa Pig attractions in two resort theme parks next year as well as a standalone park in 2019. Merlin said work has also begun on a Legoland park in South Korea, and it will open Legoland New York in 2020. "Whilst today's share price move is dramatic and investors are right to be cautious on the outlook, it is worth remembering that Merlin is barely a third of the way through a planned global expansion of Legoland," said Neil Wilson, Senior Market Analyst at ETX Capital.

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