15 Jan 2016 13:00
Allocation of Group costs
15 January, 2016
As a result of Merlin's significant growth and evolution in recent years, and to better reflect the way in which the business is managed and the basis upon which decisions are made, Merlin has revised the way in which certain costs incurred by the Group are allocated to its three Operating Groups.
This is a non-cash, accounting change. It does not reflect any change in the operating performance of the company's Operating Groups.
This change will apply for 2015 full year results and all subsequent periods.
Overall Group reported profitability is not affected.
The effect on 2015 EBITDA is expected to be as follows:
£ million | |
Midway | 4 |
LEGOLAND Parks | 1 |
Resort Theme Parks | 2 |
Central | (7) |
Group | £nil |
As a result of this change, the previous guidance for 2015 Resort Theme Parks EBITDA of £40 - 45 million would be £42 - 47 million. Group guidance is unchanged.
Merlin will report its 2015 preliminary results on 25 February, 2016.
Contact details:
For further information please contact:
Investors
Alistair Windybank / Simon Whittington | +44 (0)1202 440 082 |
Media
Brunswick Craig Breheny / Diana Vaughton |
+44 (0)20 7404 5959 |