Merlin upbeat despite London woes

L Terror attacks had trading impact but group revenues jump 11.6% in 2017

“Despite this, thanks to the efforts of our extraordinary team, we have reported overall growth in revenue, profit and cash flow, welcoming 66 million visitors – our highest on record.

“Merlin continues to evolve and, with attractive market fundamentals and the right strategy in place, we remain highly confident in the long-term prospects for the business.”

Henry Croft, research analyst at Accendo Markets, said: “Although poor summer weather and a spate of terror attacks kept tourists away from its key central London Midway attractions, today’s release has sparked renewed optimism that the company is directing attention to the right areas of the business to inspire growth.

“In fact, the word that stands out more than any other in the preliminary results release is Legoland. The franchise has extended its reach over the past decade, opening new locations in Florida, Malaysia, Dubai and Japan, while a New York park is expected to open in 2020 as discussions for a park in Korea and China continue.”

He added: “The commitment to open a further 644 new rooms across all theme parks… is being well-received by investors.”