StockMarketWire.com - Pier operator and leisure company Brighton Pier posted a rise in first-half profit, buoyed by a record August bank holiday and strong trading from a refurbished bar in Putney and two new golf courses.

Pre-tax profit for the six months through 29 December increased to £1.8m, up from £1.4m on-year. Revenue rose to £17.3m, up from £16.5m.

The company declared an interim dividend of 3.9p per share, up 15% on-year.

'Our two new golf venues at Rushden Lakes and Plymouth Drake's Circus, together with our refurbished bar in Putney have all traded strongly and ahead of expectations,' chief executive Anne Ackord said.

'The pier achieved a record August bank holiday week, with revenues just shy of £1m.'

'The United Kingdom and the leisure business in particular are facing some unpredictable and difficult months as the coronavirus continues to evolve.'

'We are monitoring this unprecedented situation closely but we believe we have a strong balance sheet, supportive bank and a strong team to meet the challenge.'

'Despite the current concerns, in the medium to long term the company's pier, bars and golf businesses remain well invested, strongly cash generative and well positioned for future growth.'




At 2:19pm: [LON:PIER] The Brighton Pier Group Plc share price was -0.5p at 44p



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