LONDON (Alliance News) - Merlin Entertainments PLC Thursday reported growth in revenue in the 18 weeks to May 2, boosted by new site openings and features and good weather, as it continues its strategic expansion plans.
The attractions and theme park operator, which runs LEGOLAND parks, Madame Tussauds wax museums, SEA LIFE aquariums and the London Eye, said total group revenue grew 7.2% in the 18 weeks, while like-for-like sales grew 3.3%.
It said it had made a "satisfactory" start to the year, with steady trading and continued progress across its strategic growth drivers, helped by new openings in 2014 and 2015, favourable weather in Europe across the early season holiday periods, and "good guest engagement" with new products and features.
The two US LEGOLAND Parks, which are open year-round, also benefited from promotional activity related to 'The LEGO Movie' that came to an end in April 2015, Merlin said.
Merlin added that exchange rate movements translated positively on its performance due to "the geographic seasonality of the business", with trading "weighted more towards North America".
"Looking forward, we are positive on the outlook for the remainder of the year. At this early stage of the season, our full year expectations remain unchanged, although we remain mindful of the potentially negative impact a weaker Euro could have on Eurozone visitation to the UK," Chief Executive Nick Varney said in a statement.
Merlin is planning a number of expansion projects in the next couple of years, including a 152 bedroom fully-themed hotel at LEGOLAND Florida to open in May, and new LEGOLAND Parks in Dubai, Japan and South Korea, on track for completion in 2016 and 2017.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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