2nd Nov 2020 17:49
Brighton Pier Group PLC - operator of Brighton Pier - Says revenue for year to June 28 falls to GBP22.6 million from GBP32.0 million the year prior. Swings to pretax loss of GBP10.2 million from profit of GBP2.7 million. Notes that prolonged closures of its bars and golf venues, as well as Brighton Palace Pier itself, due to coronavirus lockdown resulted in impairments of GBP8.1 million. Of this, GBP7.2 million relates to the Bars division, much of which remains unable to trade.
"The Covid-19 pandemic has presented an unprecedented challenge to our business. The closures during Spring 2020 came during what would normally be a key trading period, spanning both the Easter break in April and two May Bank Holiday weekends. Whilst the lost trade is disappointing, I'm proud of the way in which our team has responded to ensure the group remains in a strong financial position in such uncertain times," says Chief Executive Anne Ackord.
Current stock price: 30.00 pence
Year-to-date change: down 42%
By Lucy Heming;Â [email protected]
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