StockMarketWire.com - Brighton Pier swung to an annual profit as the summer staycation boom following the lifting Covid-19 restrictions bolstered growth.

For the 52 weeks ended 27 June 2021, pre-tax profit was £4.2 million compared with a £10.2 million loss year-on-year, while revenue fell to £13.5 million from £22.6 million.

Revenue weighed down by the closure of 'most of the bars and the COVID-19 restrictions being much more widely spread across the period,' the company said.

'The prior period also enjoyed the benefit of the full first half pre-COVID-19 trading.'

'With the easing of restrictions during summer 2021, the group's diversified offering has been in prime position to capitalise on pent up demand for leisure experiences,' it added.

Looking ahead, the company said it expected this financial year to be an 'exceptional' opportunity for the group.

In FY 2023, trading was expected to return to more normalised levels with VAT and other government support withdrawn.








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