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Merlin Entertainment remains on track for profit growth

Tue, 29th Nov 2016 07:05

(ShareCast News) - In a brusque pre-close statement, Merlin Entertainment said it expected to report "good profit growth" for the full year in line with expectations, revealing a strong Halloween for its resorts but hinting at more soft trading at some other segments.The theme parks owner said underlying trading in the 47 weeks to last Saturday in its 'Midway Attractions' division had remained consistent with the performance it reported in September.At that time, the FTSE 250 group said that difficult trading in London was impacting performance in the division as a whole, with like-for-like trading down 0.4% but total sales up almost 10% thanks in part to currency moves.Apart from some soft trading in Legoland Florida, the rest of the Legoland parks were said to have shown "continued positive momentum following two years of exceptional growth".The resort theme unit enjoyed a strong Halloween period, helped by favourable weather.Management reported good progress towards its long-term targets, including the opening of Legoland Dubai on 31 October and Madame Tussauds Istanbul on 28 November.With the company's shares down 0.7% to 433.3p after the first 45 minutes of trading on Tuesday, analyst Nicholas Hyett at Hargreaves Lansdown said the weak pound was "failing to cast a spell over Merlin's London attractions. Lower visitor numbers to attractions in the capital, such as Madame Tussauds and the London Dungeons, impacted performance over the summer. The trend seems to be continuing in the run-up to Christmas."On the upside, he pointed out that Merlin's long term future is not based on its historic London footprint but further afield: "The roll-out of attractions around the world continues, and while increased security concerns may be dampening city centre demand at the moment, we don't think it alters the long-term appetite for what Merlin has to offer."
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3 May 2019 07:41

Merlin says current trading in line with expectations

(Sharecast News) - Theme parks operator Merlin Entertainments said current trading had been in line with expectations during a "seasonally quiet" time of the year.

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3 May 2019 07:38

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LONDON (Alliance News) - Stocks in London are called for a marginally higher start on Friday, as Smurfit Kappa joined HSBC in reported a strong first three months

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26 Apr 2019 16:05

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21 Mar 2019 15:10

FTSE 250 movers: Renishaw rocked, Hunting gushes higher

(Sharecast News) - London's FTSE 250 was 0.42% lower at 19,306.99 in afternoon trading on Thursday, as Renishaw led the index lower.

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21 Mar 2019 11:31

Merlin Entertainments is a 'sell', Berenberg says

(Sharecast News) - Merlin Entertainments is incorrectly "priced for perfection" and investors should sell the theme park operator's shares, Berenberg analysts said.

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28 Feb 2019 10:40

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28 Feb 2019 10:26

Record visitor numbers help boost Merlin Entertainments

(Sharecast News) - Merlin Entertainments reported a jump in full-year revenues after visitors flocked to its theme parks and attractions.

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22 Feb 2019 07:44

Merlin Entertainments sells Australian ski resorts for £95m

(Sharecast News) - Legoland and Madame Tussauds owner Merlin Entertainments has sold its Australian ski resorts, Hotham and Falls Creek, to Vail Resorts, for AUD174m (£95m).

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21 Feb 2019 16:23

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5 Feb 2019 11:24

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LONDON (Alliance News) - Immotion Group PLC on Tuesday said it has raised GBP3.3 million before expenses to support a range of developments and contract wins.The entertainment company 45.5

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10 Jan 2019 14:45

FTSE 250 movers: Halfords skids lower while Mitchells & Butlers bubbles up

(Sharecast News) - London's FTSE 250 finished down 0.1% at 18,435.62 on Thursday, as Halfords crashed by more than 20% following a warning of deflated profits.

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10 Jan 2019 14:02

Merlin magic ebbing at London attractions, warns UBS

(Sharecast News) - UBS recommended clients sell Merlin Entertainments shares on Thursday after its research showed a decline in average reviews at the group's Midway attractions and Legoland parks in the UK.

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7 Jan 2019 17:05

LONDON MARKET CLOSE: FTSE 100 Fails To Get Boost From US-China Talks

LONDON (Alliance News) - The morning's optimism over US-China trade talks quickly faded on Monday to leave the FTSE 100 end the session in the red. Though London's blue-chip index was down

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7 Jan 2019 12:04

LONDON MARKET MIDDAY: FTSE Dips As Focus Lies On US-China Trade Talks

LONDON (Alliance News) - Optimism in Asia overnight on renewed US-China trade talks failed to flow through to the FTSE 100 at the start of the week, with Centrica and Hotels among

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7 Jan 2019 12:00

Merlin Entertainments to build first Legoland park in Korea

(Sharecast News) - Theme park operator Merlin Entertainments has entered into a partnership agreement with Gangwon provincial government to build a Legoland park in South Korea.

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