 witnessed a drop in profit for the first half of the year, as warm weather put customers off its indoor attractions.){kind=link}
Merlin Entertainments (LON:MERL) witnessed a drop in profit for the first half of the year, as warm weather put customers off its indoor attractions.
Underlying earnings (EBITDA) fell 1.3 percent to £143 million, with the group posting a 14.3 percent drop in half-year profits to £63 million. This was despite organic revenue growth of 4.5 percent to £694 million, and an 0.8 percent rise in visitor numbers over the period.
The main driver behind the fall in profits was its Midway attractions, which, being mostly based in London, saw a decline in revenue as hot weather pushed visitors towards more outdoor activities.
Chief executive Nick Varney said the company was trading in line with expectations.
“We are now entering our peak season where we generate the majority of our annual profit. With many exciting new initiatives and launches to come in the future, we remain confident in our long-term prospects,” he said.
Merlin Entertainments (LON:MERL) saw shares fall by 2.79 percent at 379.60 (1347GMT).