Feb 28, 2019
Merlin’s Legoland faces cooling sales after long growth streak
Theme park operator Merlin Entertainments has suffered a slight fall in sales at its previously fast-growing Legoland business, which it attributed to the lack of a Lego-themed movie in 2018. In the year to December 29, Legoland revenues fell 0.3 per cent on a like-for-like basis, following several years of very strong growth that had previously underpinned Merlin's share price. The group said that "2018 saw limited 'new news' reflecting a low point in our capital investment cycle and no Lego movies," although some analysts say Merlin will capitalise on interest generated by the recently released Lego Movie 2, which did well in UK box offices. Merlin warned of flatlining sales at its Lego attractions in a trading statement in October. Merlin reported just 0.1 per cent growth for its Midway division in 2018, on a like-for-like basis.
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