Brighton Pier Group enjoys increased post-COVID performance

24th April 2023 | Jack Oliver

The Brighton Pier Group has recorded an increase in revenue and profit for the 18 months to 25 December 2022, after changing its financial year end to reflect a more “meaningful comparison” going forward.

The change of year end from June to December means the group’s results represent its first uninterrupted trading period post-Pandemic, and consolidates the busy Summer trading months into one period.

As well as Brighton Palace Pier, the group operates eight bars nationwide, eight indoor minigolf sites, and Lightwater Valley Family Adventure Park.

Group revenue for the 2022 financial year reached £58.9m, up from £13.5m in 2021, although the earlier period was six months shorter.

Profit before tax rose from £4.2m to £7.6m, with the group saying that the improved performance enabled it to repay £9.1m of its debt.

Anne Ackord, chief executive officer, said: “Like many in our industry, we have had to absorb higher costs relating to wages, energy prices and other inputs. Nevertheless, our businesses remain profitable, well managed and backed by a strong balance sheet and asset base.

“We are confident in the ability of our management teams to operate successfully in our markets, but we remain mindful of the continuing pressures from the wider economic environment in which we trade.”


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