23rd Jul 2015 07:37
LONDON (Alliance News) - Attractions designer Paragon Entertainment PLC on Thursday said its pretax loss narrowed in the first half of 2015 on the back of higher revenue.
The company, which designs and builds attractions, said its pretax loss narrowed to GBP30,000 in the half, compared to a GBP214,000 loss a year earlier, as revenue rose by 20% to GBP4.5 million from GBP3.8 million. Revenue was boosted by the completion of its projects at the Maya Exhibition at Liverpool Museum, the Heineken Experience in Amsterdam and the new World War exhibition at Dover Castle.
The company also said it has reached an agreement with HM Revenue & Customs, the UK tax authority, to pay GBP398,346.02 in cash to settle its long-running case with the taxman.
"I remain satisfied that Paragon is continuing to deliver on the opportunities available to it. We are making steady progress but we still have some hard work ahead of us," said Executive Chairman Mark Taylor.
Paragon shares were down 11% to 1.9 pence in early trade on Thursday, one of the worst performers in the London Main Market.
By Sam Unsted; [email protected]; @SamUAtAlliance
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