1 Nov 2016 07:00
Date: | 1 November 2016 |
On behalf of: | Paragon Entertainment Limited ("Paragon", the "Company" or the "Group") |
Paragon Entertainment Limited
Trading update
Paragon Entertainment Limited (AIM: PEL), the attractions design, production, fit-out and licensing business, is pleased to provide an update on current trading for the financial year to date.
The Board is pleased to announce that the Group is trading ahead of the Board's previous expectations as Paragon has moved beyond the distractions of recent years which has enabled staff and management to focus their efforts on its core attraction 'design and build' business. In addition, the strength of the current order book gives management confidence in continued growth for the year ahead.
The Board now expects revenue for the full year ending 31 December 2016 to be approximately £13.2m, ahead of previous expectations of £11.0m; and EBITDA for the full year ending 31 December 2016 to be approximately £1.0m, ahead of previous expectations of £0.5m.
Mark Taylor, Chairman of the Group, said:
"I am satisfied with our continued progress. Our team at Paragon has worked extremely hard over the last two years to grow the business while continuing to produce the quality and innovation that is expected of us as a market leader. This year we have also invested heavily in building capacity to prepare us for growth in the years ahead."
For further information:
Paragon Entertainment Limited Mark Taylor (Chairman)
finnCap Ltd Julian Blunt / Simon Hicks (corporate finance) Alice Lane (corporate broking) |
01904 608020
020 7220 0500
|
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014
About Paragon
Paragon Entertainment Limited (AIM:PEL) is an award winning provider of attraction services from initial design production and consulting through to the fit out and installation of themed attractions, heritage exhibits, museums, aquariums and water parks, inter alia. Paragon Entertainment is the holding company for Paragon Creative Limited.
The Group's projects have included:
· The build of Rolling Stones Exhibitionism at the Saatchi Gallery, London;
· The design and build of Kidzania, London;
· The design and build of galleries at the Olympic Museum for the IOC in Lausanne, Switzerland;
· The design and build of the galleries at The National Museum of Kazakhstan;
· The design and build of Titanic Belfast;
· The thematic build of the Wallace and Gromit ride at Blackpool Pleasure Beach;
The Group listed on AIM in 2011. Further information can be found at: http://www.paragonent.com.