The operator of Madame Tussauds and Legoland said yesterday that it was starting to see signs of recovery in London after last year’s terrorist attacks, but added that “the cost environment remains challenging”.
The cautious tone used by Merlin Entertainments in its trading update sent its shares down 29¾p, or 8%, to 340p, although the company insisted that its annual results would be in line with expectations.
Underlying revenue growth in the 40 weeks to October 6 was 4.7%, a rise of 2.6% at on a reported currency basis, while like-for-like sales increased by 1.4 per cent, slightly better than the consensus forecast of 1.2%.
