Brighton Pier Group H1 sales falter due to poor weather
The usually busy July summer holiday season – for the four-week period to 21 July – saw a footfall decline of 29% compared with the equivalent weeks in 2023
The Brighton Pier Group has reported that like-for-like sales in the first 18 weeks of the year were down by approximately £500k on the equivalent period in 2023, owing primarily to poor weather impacting trading on Brighton Palace Pier.
In recent months, the group revealed that poor weather has continued to “adversely” impact sales at the Pier, through a combination of rides closures and low footfall.
Meanwhile, the usually busy July summer holiday season – for the four-week period to 21 July – saw a footfall decline of 29% compared with the equivalent weeks in 2023.
Despite a warm and sunny spell in the last week, paired with the implementation of charging non-residents £1 for admission to the Pier during peak trading periods, the group now anticipates full-year sales for the Pier to be lower than previously expected.
The group’s remaining three divisions – Lightwater Valley Family Adventure Park, Paradise Island Adventure Golf and its bars – were broadly consistent with the previously reported performance.
The Brighton Pier Group has yet to trade in the remaining six weeks of the summer season through to the end of August, which typically contributes a “significant” portion of the group’s annual sales and earnings.
However, despite the earnings from admission revenues, and the potential for improved weather in August, the group no longer believes the year to date sales and earnings shortfall will be recovered.
As a result, the group expects EBITDA for the full financial year to be below market expectations.
Anne Ackord, CEO of The Brighton Pier Group, said: “Despite significant efforts by our divisional management teams, who continue as always to strive for the best results possible, the overall group trading performance year to date has been disappointing.
“The potential return of summer weather in the next six weeks, combined with the additional revenue from admission charging may offset some of the year to date trading deficit. Nevertheless, it is the Board’s view that the trading for the full 2024 summer season will be below expectations.”
