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Record visitor numbers help boost Merlin Entertainments

Thu, 28th Feb 2019 10:26

(Sharecast News) - Merlin Entertainments reported a jump in full-year revenues after visitors flocked to its theme parks and attractions.The owner of Madame Tussauds, Legoland and Alton Towers said 67m people came to their attractions during 2018, a record higher and 1.4% improvement on the previous year. That helped revenues grow 5.9% to £1.69bn while underlying earnings rose 4.3% at £494m.Pre-tax profits were ahead 4.9% at £285m.Its resort theme parks division saw organic revenues rise 9.1%, helped by favourable weather and a strong Halloween period. Legoland Parks organic revenue increased 6.4% after more hotel rooms were opened, helping to offset a broadly flat like-for-like performance.Nick Varney, chief executive, said: "2018 saw improved momentum across most of our businesses reflecting the strength of our diversified portfolio and geographic spread."We continue to seek to mitigate external cost pressures and expect to deliver up to £35m of annualised savings by 2022 through a number of initiatives."Our continued investment, new market opportunities and our evolving position as unique, multi-format international operator of strongly-branded entertainment...gives us the confidence that we are well placed to deliver long-term growth and returns."Looking ahead, Merlin said it was making "continued progress" towards the construction of Legoland New York, scheduled to open in 2020, and had reached an agreement to open a Legoland in Korea by 2022.It added: "Trading at this seasonally quiet point in the year has been in line with expectations. Our 2019 outlook is positive and unchanged."Anna Barnfather, analyst at Liberum, said: "This is a seasonally quiet time of the year but Legoland is expected to enjoy a boost from The Lego Movie 2 and associated new attractions. Forecasts for 2019 as based on 2.6% like-for-like sales growth and are unlikely to change at the operating level, but could rise around 4% at the profits before tax line if low financing costs are rolled forward."Ivor Jones, analyst at Peel Hunt, said Merlin's shares were trading at a price/earnings ratio of 17.6x. "While this is not cheap, we believe it is good value for a global business with a multi-year growth plan underpinned by key brands, and we reiterate our 'buy' recommendation."Shares in Merlin were ahead 3% at 362p at 1100 GMT.

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1 Mar 2018 09:45

BUZZ-Merlin Entertainments: Shares on track for best day ever

** Madame Tussauds operator Merlin Entertainments shares rise as much as 12.8 pct, their highest intraday pct gain on record ** Stock among top gainers on FTSE 250 ** Co posts 9.5 in

1 Mar 2018 08:58

LIVE MARKETS-Results drag European shares, investors warm to UK domestics

LONDON, March 1 (Reuters) - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Kit Rees. Reach

1 Dec 2016 09:31

BROKER RATINGS SUMMARY: Credit Suisse Raises BP To Outperform

29 Nov 2016 07:17

TOP NEWS: Merlin Entertainments Expects "Good Profit Growth" In 2016

29 Nov 2016 07:05

Merlin Entertainment remains on track for profit growth

(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 unde

22 Nov 2016 16:20

UK Earnings, Trading Statements Calendar - Next 7 Days

15 Nov 2016 07:04

Tuesday newspaper round-up: Hammond, Carney, Nato, HS2, Glencore

(ShareCast News) - A slowdown in the UK economy will hit tax receipts and leave the chancellor with little wriggle room for giveaways at next week's autumn statement, a new report warns. Publishing new forecasts for GDP growth to slow next year as the Brexit vote bites, the consultancy firm PwC said

4 Nov 2016 11:02

Friday broker round-up

(ShareCast News) - Coca Cola HBC: Barclays keeps at underweight with a target price of 1630p. Smith & Nephew: Jefferies stays at buy, 1395p target. Merlin Entertainments: Berenberg starts coverage with a 440p target. South 32: Barclays reiterates overweight with a 200p target. Ladbrokes: UBS keep

4 Nov 2016 08:32

Berenberg starts Merlin Entertainments at 'hold'

(ShareCast News) - Berenberg initiated coverage of Merlin Entertainments at 'hold' with a 440p price target, saying the stock is "priced to perfection". "We like the company, are impressed with its growth over the last 10 years and believe its strategy will continue to add scale to the business. How

12 Oct 2016 13:54

DIRECTOR DEALINGS: New Merlin Entertainments CFO Buys 4,500 Shares

3 Oct 2016 17:03

Broker tips: Euromoney, Centrica, Merlin Entertainments

(ShareCast News) - Canaccord Genuity on Monday cut its rating on Euromoney Institutional Investor to 'hold' from 'buy' but raised its target price to 1,165p from 1,128p. Euromoney reported a "broadly reassuring" trading update last week confirming that full year earnings will be more or less in line

3 Oct 2016 09:29

HSBC initiates Merlin Entertainments at 'buy'

(ShareCast News) - HSBC initiated Merlin Entertainments at 'buy' and a target price of 530p on Monday, saying the theme park owner remains "high growth, well-diversified and scalable". The bank said following a weak summer it believes there is potential for strong recovery in Merlin's Midway attract

30 Sep 2016 08:27

BROKER RATINGS SUMMARY: Split View On Capita As Two Raise, Three Cut

29 Sep 2016 07:22

Merlin posts summer growth despite struggling Midway

(ShareCast News) - Leisure operator Merlin Entertainments posted a trading update on Thursday, outlining its performance over the key summer period. The FTSE 100 firm saw 10.7% total revenue growth across the group, or 3.7% at constant exchange rates. Of that, Midway Attractions and Legoland Parks

27 Sep 2016 11:19

Merlin Entertainments fined £5m for Alton Towers crash

(ShareCast News) - The owner of Alton towers, Merlin Entertainments is being sentenced for the catastrophic roller-coaster crash in June that injured 16 people, two of which needed leg amputations. The "Smiler" ride collided with an empty car that had stalled further along the loop crushing the legs

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