Brighton Pier Group PLC (The) – PIER – Half-year Report

Brighton Pier Group PLC (The) – PIER – Half-year Report

The Brighton Pier Group PLC today announces its unaudited results for the 26-week period ended 27 December 2020.

Financial Highlights

26 weeks ended
27 December 2020

26 weeks ended
29 December 2019

£m

£m

Revenue

8.2

17.3

Group EBITDA before highlighted items

2.6

4.2

Group EBITDA after highlighted items

4.4

4.1

Operating profit before highlighted items

1.3

2.5

Operating profit after highlighted items

3.1

2.4

Profit before taxation and highlighted items

0.8

2.0

Profit before taxation after highlighted items

2.7

1.8

Net debt at the end of the period

12.5

11.0

Basic earnings per share (with highlighted items added back)

2.1

4.1p

Basic earnings per share

7.1

3.9p

Diluted earnings per share (with highlighted items added back)

2.1

4.1p

Diluted earnings per share

7.1

3.9p

 

*Highlighted items are detailed in note 5 to the financial statements and relate to gains arising on the extinguishment of lease liabilities following site disposals (less costs) in the current period and site pre-opening costs in the prior period.

 

Commenting on the results, Anne Ackord, Chief Executive Officer, said: 

 

"We look forward to the reopening of all of our businesses, following what has been a traumatic time for the whole industry. We are encouraged by our performance during the relatively short times when we have been permitted to operate and have full confidence that the Group is well placed to take advantage of the opportunities that the anticipated staycation boom will present, along with the expected pent-up retail spend.

We are pleased to note that the combination of the strong summer trading in the Pier and Golf coupled with the receipt of interim business interruption payments have resulted in earnings before tax 44% ahead of the same period last year."

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