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Brighton Pier trades ahead of expectations since reopening
14th Sep 2020 08:06
(Sharecast News) - Bright Pier Group said on Monday that trading since reopening several sites on 4 July had been better than expected, with total revenues coming in at 77% of those recorded in the prior year.
On a divisional basis, the group said revenues for the Pier were at 78% of their year earlier level, the six golf sites that were open were running at 86% and its two operating bars at 59%.
The AIM-listed outfit added that it was continuing to work with landlords in both the golf division and late-night bars unit to secure rent concessions and on-going turnover rent so as to mitigate the cost from having had to close, the impact on sales of Covid-19 restrictions during the re-opening phase and the continuing extended closures in the bars division.
Chief executive Anne Accord said: "I am pleased with trading on the Pier, in our golf sites and the two food led bars that opened on the 4 July. At 77% of last year, it is better than expectations and while visitor numbers are down on last year spend per head has grown by 20%.
"There remains however an urgent need for the Government to agree a plan for the re-opening of our late night estate so that we can manage their return to business as quickly and effectively as possible.
As of 1320 BST, BrightonPier shares were down 1.64% to 30.0p.
On a divisional basis, the group said revenues for the Pier were at 78% of their year earlier level, the six golf sites that were open were running at 86% and its two operating bars at 59%.
The AIM-listed outfit added that it was continuing to work with landlords in both the golf division and late-night bars unit to secure rent concessions and on-going turnover rent so as to mitigate the cost from having had to close, the impact on sales of Covid-19 restrictions during the re-opening phase and the continuing extended closures in the bars division.
Chief executive Anne Accord said: "I am pleased with trading on the Pier, in our golf sites and the two food led bars that opened on the 4 July. At 77% of last year, it is better than expectations and while visitor numbers are down on last year spend per head has grown by 20%.
"There remains however an urgent need for the Government to agree a plan for the re-opening of our late night estate so that we can manage their return to business as quickly and effectively as possible.
As of 1320 BST, BrightonPier shares were down 1.64% to 30.0p.