Everything is awesome as Legoland boosts Merlin Entertainment
Merlin Entertainments, which recently announced it is to open a theme park in South Korea, has said it expects its full-year results to be in line with expectations, citing strong post-summer trading.
The group expects to report earnings before interest, tax, depreciation and amortisation of between £407m and £411m for 2014. It points to a solid end for the first 12 months after Merlin's IPO in November last year.
Results have been boosted by Legoland Parks, with the release of the Lego movie offering a further fillip. Operations in Bangkok have continued to be a “drag on growth,” however. The details themselves will be released on 26 February, when Merlin releases its annual results.
Nick Varney, Merlin's chief executive, said:
As we approach the end of our first financial year as a public company, I'm pleased to report continued good trading across the business, reflecting positive underlying trends, favourable weather in the period, and this year's exceptional performance in Legoland Parks.
The trading in the balance of the year comprises primarily our year-round Legoland Parks in North America and the Midway Attractions Operating Group, including the peak season for our attractions in Australia and New Zealand. Whilst there is still some significant trading to come, we are confident in delivering a strong full year result. The performance this year has benefited from a number of one-off factors and whilst we remain positive on the outlook for 2015, our expectations remain unchanged.
Merlin announced last week that it is to open a Legoland theme park in south Korea, in the city of Chuncheon. The park will be the sixth such park and is expected to open in 2017.
