Brighton Pier Group looking ahead with caution after first half trading

Brighton Pier Group, the entertainment group, which owns and trades Brighton Palace Pier among other venues, said it was looking ahead with "caution" after seeing lower than expected sales in its first half.

"The group is navigating a challenging trading environment, with persistent high inflation and reduced footfall continuing to affect disposable incomes across many of the Group's trading sites," said CEO Anne Ackord in a statement.

"When combined with the ongoing cost pressures we face it has led to lower than expected sales and earnings in the first half of 2023.

READ MORE: Post-pandemic, Brighton Palace Pier revenues bounce back

"While we still have many of the key summer weeks to come, recent trading in July has been impacted by a number of events outside of our control namely weekend train strikes, stormy weather and the hotel fire across the road from the pier which has disrupted sales. "

But the company boss added: "We will still attempt to capitalise on the forthcoming school holiday period of August, traditionally the busiest and most profitable period in our year.

"With current economic trends set to continue in the short to medium term the outlook must continue to be one of caution."

The company said that while the first quarter of the year, though still behind the equivalent exceptional period in 2022, had been in line with market expectations, the second quarter had proved more difficult.

Total sales for the six months to June 25 are expected to be in the region of £16.2 million, it said.

The combined effect of lower sales with the inflationary cost pressures are expected to result in earnings after tax below market expectations, it told investors, adding that all four divisions would "remain profitable" for the full year despite the challenges.

The company also has a golf division, a bars division, and the Lightwater Valley family adventure park, which is a leading North Yorkshire attraction.

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