Paragon Entertainment expects revenue well ahead of expectations

1st Nov 2016 08:11

(ShareCast News) - Paragon Entertainment expects revenue to be ahead of previous expectations as it has concentrated on its core business of designing and producing visitor attractions, giving up previous "distractions".The AIM-listed company said that it was ahead of previous expectations because it had "moved beyond the distractions of recent years" as it focuses on the core attraction design and build business, which works with museums, heritage centres, zoos and aquariums, theme parks and visitor attractions, science centres, retailers, food and beverage outlets.The current order book also was said to give management confidence in "continued growth for the year ahead".Revenue for the calendar year is expected to be about £13.2m, ahead of previous expectations of £11m and earnings before interest, tax, depreciation, and amortisation (EBITDA) is to be about £1m, also ahead of previous expectations of £500,000.Chairman Mark Taylor said: "I am satisfied with our continued progress. Our team at Paragon has worked extremely hard over the last two years to grow the business while continuing to produce the quality and innovation that is expected of us as a market leader."This year we have also invested heavily in building capacity to prepare us for growth in the years ahead."Shares in Paragon Entertainment were up 24.62% to 2.43p at 0912 BST.