Brighton Pier Group said its profit before tax hit £6.6m in its half-year results, as pent up demand from families caused a £4m leap.
The amusement park operator said the family entertainment market had been buoyed by holiday makers opting for staycations amid the pandemic. Profit before tax surged beyond the £2.7m sum for the same period the year prior.
The firm’s revenue shot to £22.8m, it revealed in interim results for the half year to 26 December 2021. The figure marks a leap from the 26-week comparable period in 2020, when revenue hit £8.2m.
Group EBITDA stood at £7.9m, in comparison to £1.9m for 2020, when Covid restrictions hindered trade for hospitality operators for several months.
Profit for the year ending June 2022 was anticipated “to be ahead of market expectations,” Brighton Pier Group said on Monday.
Chief executive officer, Anne Ackord, said the underlying trend for the first half was well above pre-pandemic 2019 levels.
She also pointed to VAT and rates support measures as helping the group trade ahead of market expectations.
Ackord was confident the sales trend would continue and the group would benefit from its acquisition of the Yorkshire adventure park Lightwater Valley.
“We believe our asset-backed group is well placed to record an excellent result for the full-year and beyond,” she said.