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Paragon Entertainment shares slide as group lowers guidance

Wed, 12th Jun 2019 09:53

(Sharecast News) - Attractions design and fit-out business Paragon Entertainment warned investors on Wednesday that full-year losses would be larger than initially expected despite witnessing revenues come in bang on guidance.Paragon said that during the audit of its full-year financial statements it had become apparent that following the adoption of IFRS 15, some revenues that were previously expected to be recognisable in 2018 would now be recognised in 2019.Revenue expectations for Paragon's last trading year were revised to £9m, in the middle of the £8.8m to £9.2m previously estimated, while pre-tax losses were pegged to come in at £3m - wider than the £2.5m to £2.7m originally forecast.The AIM-listed group revealed the revenue issues mainly related to a shift in the programme at its Kidzania project in Abu Dhabi.However, Paragon now expects revenue for the first half of 2019 to be between £6.5m and £7m, with similar revenue expected in the second half, while underlying earnings for the six months ended 30 June were expected to be around £300,000.Looking forward, Paragon assured shareholders it would continue to look at opportunities to reduce its cost base with a view to reducing long-term overheads and increasing future profitability.As of 0950 BST, Paragon shares had slumped 21.88% to 1.25p.

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20 Jun 2019 15:02

Paragon Entertainment to appoint administrators

(Sharecast News) - Paragon Entertainment said on Thursday that it has decided to appoint administrators "as soon as possible".

4 Jun 2019 09:35

Paragon Entertainment appoints industry vet Damien Latham as CEO

(Sharecast News) - Attractions design and fit-out business Paragon Entertainment has appointed former Emaar Entertainment chief executive Damien Latham as CEO, with immediate effect.

31 May 2019 17:10

UPDATE: Paragon Winding Up Petition Issued In Error

LONDON (Alliance News) - Paragon Entertainment Ltd said late Friday that the winding up petition for its principal trading subsidiary was issued in error.Shares in Paragon Entertainment at

14 Mar 2019 10:46

WINNERS & LOSERS SUMMARY: Just Group Sinks After Scrapping Dividend

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3 Sep 2018 08:43

Paragon Entertainment switches out CEO

(Sharecast News) - Paragon Entertainment chief executive John Dobson has chosen to leave the company after having provided the firm with a "platform for recovery".

22 Aug 2018 10:36

WINNERS & LOSERS SUMMARY: Grafton Group Rises After Strong First Half

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22 Aug 2018 07:55

Paragon Entertainment suffers £2m first-half loss

(Sharecast News) - Paragon Entertainment swung to a first-half loss as the attractions design and fit-out business suffered project delays caused by slowing business and uncertainty in the UK and the Middle East.

15 Aug 2018 16:10

UK Shareholder Meetings Calendar - Next 7 Days

Thursday 16 Augustno events scheduledFriday 17 AugustMX 20 21 Natural Focus (re sale

1 Nov 2016 10:29

WINNERS & LOSERS SUMMARY: Standard Chartered Sold As Profit Misses

1 Nov 2016 08:11

Paragon Entertainment expects revenue well ahead of expectations

(ShareCast News) - Paragon Entertainment expects revenue to be ahead of previous expectations as it has concentrated on its core business of designing and producing visitor attractions, giving up previous "distractions". The AIM-listed company said that it was ahead of previous expectations because

19 Sep 2016 12:10

Paragon Entertainment promotes its COO to CEO

(ShareCast News) - Paragon Entertainment, an AIM listed attractions design, production and fit-out business, has appointed its chief operating officer (COO) to the role of Chief Executive Officer (CEO). John Dobson will take over as CEO from Mark Pyrah, who is also the company's co-founder. Pyrah wi

5 Sep 2016 12:37

Paragon Entertainment signs deal with Turkish firm

(ShareCast News) - Attractions design, production and fit-out business Paragon Entertainment announced on Monday that it has entered into a representation agreement with Gülsah Öztürk, a museums, attractions and heritage specialist based in Turkey. The AIM-traded firm said Gülsah Öztürk will represe

18 Aug 2016 14:36

Director dealings: Paragon's new COO builds stake

(ShareCast News) - Paragon Entertainment's recently appointed chief operating officer John Dobson made his third share purchase this month as the lowly priced visitor attraction construction specialist climbs back towards yearly highs. Dobson, an accountant who was hired in May, bought 773,503 share

21 Jul 2016 09:49

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