Blackpool Pleasure Beach reports £8.6m profit

Blackpool Pleasure Beach

Blackpool Pleasure Beach reported “exceptional” pre-tax profits of £8.6 million for the year ending March 2022.

Accounts filed with the UK government’s Companies House showed that the park recovered from a £2.9 million loss the previous year.

The wider Blackpool Pleasure Beach Holdings company – which operates the Thompson family’s wider business interests including hotels – made £10.6 million profit before taxes.

Restrictions and mandatory closures seen as part of the COVID-19 pandemic widely affected the leisure sector in 2020 and 2021.

‘Pent up demand’

Blackpool Pleasure Beach Limited makes up the vast majority of the Holding company’s income, with the amusement park increasing turnover by 138% compared with the year ending March 2021.

The Lancashire park said that “pent up demand” and “staycations” had contributed to the turnaround.

It added that “exceptional” trading had been helped by the government’s temporary cutting of VAT following easing of COVID restrictions.

The Holdings company said that it last year renegotiated its £9.9 million of loans to “support the cash flow of the business”.

Writing in the strategic report, Pleasure Beach chief executive Amanda Thompson said that the current year’s results would “not be repeated”, citing a gradual withdrawal of government COVID support.